Cryptocurrency
by Seth Parker on May 18, 2018

Decred (DCR) Analysis – 80 USD keeps the buy signal alive

The last analysis of the day will be about the Decred and also it will be the first time that we are mentioning this altcoin on our portal. Decred developers claim that this cryptocurrency is the one and only which is truly decentralized. It is not up to me to judge, if they are right or wrong. In this piece, we will try to estimate the future movement of this coin.

Decred Chart

Situation here has many similarities with the overall price movements on the cryptos but there is one thing, which makes it different. The rise on December was not so spectacular as on the rest of the market. What is more, the following decline was also mild. In addition to that, the most recent upswing, from April, was almost as strong as the run at the end of the year. On rest of the market, the rise in April is nothing compared to this one from December, here the situation is different.

We have similarities too, the current rise is shaped like a flag (orange lines) and it promotes a further drop. In my opinion, for the sell signal we should wait a bit more, so for the breakout of the 80 USD support (green). As long as we are above, the buy signal is intact.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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