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BTC $43967.23 (3.32%)
ETH $3111.77 (5.50%)
USDT $1.00 (8.00%)
BCH $543.59 (2.28%)
BSV $145.21 (-2.6%)
LTC $160.09 (1.77%)
BNB $375.84 (2.92%)
ADA $2.23 (4.09%)
DOGE $0.22 (4.78%)

Decred Price Prediction – Will DCR Price Hit $300 Soon

Price-Prediction-Forecast-—-DECRED
  • Bullish DCR price prediction ranges from $127 to $250.
  • DCR price might also reach $300 soon.
  • DCR bearish market price prediction for 2021 is $46.

This Decred (DCR) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key measures that we have taken into consideration upon coming up with the DCR price analysis and prediction.

Among the cryptocurrencies that are rallying this year, Decred is perhaps one of the most surprising for some. It is not directly connected to Bitcoin, nor is it the most hyped cryptocurrency today.

But for those that are aware, Decred has been around since 2017. It recently made headlines after hitting almost $250 on April 17, 2021.

Can Decred reach $300 in 2021? We will find out shortly. But before we proceed to our Decred price analysis, let us first answer the question “What is Decred?” in this DCR prediction 2021 article.

What is Decred (DCR)?

Decred (DCR) is a blockchain-related crypto launched in Feb 2016. Moreover, the Decred token and protocol were developed to help open governance, community interaction, and also sustainable policy on funding.

As per the official whitepaper, Decred was developed in such a way that the community approves all transactions and changes made as per the protocol. Hence, there is no path for big Decred holders to make the operation of the protocol. More so, the Decred was heavily influenced by Bitcoin and used many of the underlying principles of the original digital currency.

Notably, the Decred project was launched in 2016 by Company 0 and released its mainnet soon after. More so, it was led by Jake Yocom-Piatt and other software developers who contributed to btcsuite before. It forked bitcoin to allow a hybrid consensus system joining Proof-of-Work (PoW) and Proof-of-Stake (PoS) into the novel Proof-of-Activity (PoA).

The main aim was to better organize the development and decentralization of a cryptocurrency. Moreover, 60% of block rewards goes to miners and 30% distributed to stakeholders to enable for checks and balances. The final 10% is a subsidy to an autonomous treasury that disperses funding to projects related to voting through the blockchain.

Now that we have an idea about DCR, do you think DCR will be profitable crypto in 2021? Join me and let us see the charts in this DCR price analysis and DCR price prediction.

Decred Current Market Status

As of the time of writing this Decred (DCR) price analysis, DCR trades at $108 with a 24-hour trading volume of $40,112,968. More so, the price of DCR has decreased by 0.66% in the last 24 hours.

Furthermore, DCR has a current circulating supply of 13,049,153.97 DCR. Currently, the top cryptocurrency exchanges for DCR are Binance, OKEx, Huobi Global, Gate.io, and KuCoin.

Now, let’s proceed to the next part of this DCR technical analysis for 2021.

Decred Price Analysis

Currently, Decred (DCR) holds 56th place on CoinGecko. But will the latest upgrades, development, and changes in the DCR blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this DCR price prediction article.

DCR USDT chart showing Inverted Cup With Handle pattern
DCR/USDT chart showing Inverted Cup With Handle pattern (Source: TradingView)

In the daily frame chart shown above, we can see the Inverted cup with handle Pattern. Based on the graph above, the chart displays an inverted cup and handle pattern. Moreover, the pattern represents a period of consolidation which might result and reach an immediate price breakout or breakdown. A breakdown from the upper trendline indicates the start of a new bearish trend, while a breakout from the lower trendline represents the start of a new bullish trend.

In the foreseeable future, we can say that DCR has a higher chance of going bearish than bullish. As shown above, at the beginning of this month, DCR turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

DCR Relative Strength Index
DCR Relative Strength Index (Source: TradingView)

The Relative Strength Index (RSI) is above 37, which means that DCR is in an oversold state. Hence, this may proceed to a price reversal at any given time. 

Therefore, traders need to trade crypto cautiously and must not be affected by the market hype. Keeping all this in mind, crypto traders need to be aware and move away from unexpected losses due to the crypto market’s huge swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of DCR.

DCR 30-day SMA and 50-day EMA
DCR 30-day SMA and 50-day EMA (Source: TradingView)

Since the start of 2021, DCR’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by consolidation, fluctuations, and corrections right away. Taking this into consideration, DCR has a competitive market this 2021.

Decred Price Prediction

The chart below shows that Decred (DCR) has performed bearish over the past few days. If this trend continues, DCR might run along with the bears, falling towards $87.

DCR/USDT Price Chart
DCR/USDT Price Chart (Source: TradingView)

Conversely, if the investors turn towards crypto, the bulls might take over DCR from its downtrend position. In simpler terms, the price of DCR might increase to $178, a bullish signal.

Meanwhile, our long-term DCR price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $250 this year. However, that will only happen if it breaks many past psychological resistances.

Conclusion

Decred (DCR) has a bright future ahead of it in 2021. With the ongoing developments happening within the DCR ecosystem, as well as in the overall crypto market, we may see DCR reach new heights. Bullish DCR price prediction 2021 is $250. As said above, it may even reach $300 if investors have decided that HT is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

How to Buy a DCR?

Users can obtain DCR by purchasing them from cryptocurrency exchanges such as Binance, OKEx, Huobi Global, Gate.io, and KuCoin.

Will DCR Surpass its Current ATH?

DCR is a good investment in 2021. However, DCR has a high possibility of surpassing its current ATH at about $250 this year.

Can DCR reach $300 soon?

Yes, it’s very much possible that DCR might reach $300 in the near future as per the current bullish trend.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.