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- 1 DCR is currently trading at $13.66 with a rise of 113.9% in the 24-hour trading volume.
- 2 The price of DCR recorded a rise of 10.53% in the last 24 hours.
DCR price recently took a rejection from the 100 EMA level. It is presently trading below all the major EMA and MA’s observing a severe decline in value. The long red candlestick and lower high and low patterns suggest that there is a strong presence of sellers in the market.
The majority of the technical indicators suggest a bearish outlook concerning the near future. The buyers might find taking back control of the price action challenging. The price is trading under the dominance of bears, seeing a decline of 22%.
The oscillators RSI and stochastic RSI are at present also trading near their resistance levels. The current value of the DCR token is $13.66 and it has a market cap of $208.33 Million, observing a subtle surge over the past few days. The price will require significant support from the investors in order to make a recovery in the near future.
Rise of Bearish Sentiments in the DCR Token Price
Investor sentiments regarding the DCR price have taken a bullish surge over the past few days. The Total Bullish Sentiment metrics have risen dramatically by 124.7%. However, the buyer’s optimistic sentiments may get overpowered by the bears. There is an increase of 125.6% in the total bearish sentiments.
Technical Analysis of DCR Price
The RSI line is making a higher high and low pattern on the one-day chart. At present, the RSI line is trading at 42.82 points, whereas the 14 SMA is trending just below the 50 RSI point at around 35.89 points.
The stochastic RSI is moving near severely oversold levels. The %K line is giving a bearish interception to the %D line near 71.52 points. At present, the value of the stochastic RSI is 71.52 points.
Conclusion
According to the analysis, the price of DCR is trading firmly within the bear’s grasp. The RSI line and the stochastic RSI is moving near crucial resistance levels which may cause the price to decline further in the near future. Despite this, the Lunar Crush platform suggests that the community is very active regarding the token across various social media platforms within the last few weeks.
Technical Levels:
Support –$0.10
Resistance – $0.20
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
