Decentr (DEC) Technical Analysis 2021 for Crypto Traders

Decentr (DEC) Technical Analysis 2021 for Crypto Traders

In Decentr (DEC) Technical Analysis 2021, we use past statistics, price analysis, RSI, RVOL, and much other information about DEC to analyze the future movement of the cryptocurrency

Decentr (DEC) is a publicly accessible, open-source blockchain protocol that targets the consumer crypto loans market. Decentr fundamentally redefines the relationship between data and economics through innovation that prioritizes local control of valuable keystrokes of data often generated habitually. Decentr native token is DEC that is used to buy and sell data and according to Poloniex.

Decentr (DEC) Current Market Status

According to CoinMarketCap, the DEC price is trading at $0.2476 with a 24-hour trading volume of $2,369,111, at the time of writing. However, DEC has increased by 18.65% in the last 24 hours. 

In addition, DEC has a circulating supply of 80,268,580.08 DEC. Currently, DEC trades in  BKEX, CoinW, Hoo, Uniswap (V2), and Hotbit.

Decentr (DEC) Technical Analysis 2021 

Decentr (DEC) holds the 218th position on CoinMarketCap right now. The recent development and upgrades might push DEC to reach new heights. Now, let’s deep dive into the DEC technical analysis 2021. The daily time frame chart of Decentr (DEC) is shown below.

           DEC/USDT Ascending Channel Trend (Source: Tradingview)

The above chart shows the Ascending Channel Trend. Ascending Channel trend is designed by upward sloping parallel lines. Higher highs and higher lows characterize this price pattern. Hence more, Channel are used commonly in technical analysis to confirm trends and identify breakouts and reversals

DEC trades in a range of $0.2476. If the trend continues then it will reach the resistance level $0.74. Or else if the break out happens then it will falls to the support level of $0.03

Decentr (DEC) RSI

The below chart shows the relative strength index (RSI) of DEC. 

DEC RSI (Source: TradingView)

As shown in the below chart, RSI remains at 79.24. Henceforth, this shows that DEC’s price is in an overbought state. However, this shows that traders can trade fearlessly.

Decentr (DEC) RVOL

The below chart shows the Relative Volume of DEC. RVOL is an indicator that represents to traders how the current trading volume has changed over a period of time compared to the past trading volume.

DEC RVOL(Source: TradingView)

Notably, in the last week of July, it found that the RVOL of DEC observed is weaker. Currently, the RVOL of DEC remains above the cutoff line which represents the stronger participants in the current trend.

Decentr (DEC) Moving Average

DEC’s Moving Average (MA) is shown in the chart below. More so, Moving Average is a part of technical analysis that supports traders to find trends.

DEC MA (Source: TradingView)

Currently, DEC is in a bearish state. However, the DEC price touches 50 MA (short-term), and it has a high chance of moving above 50-MA level. Once it moves above 50 MA and 200 MA levels, it completely goes to a bullish state. Moreover, there is a high possibility of a Trend reversal at any time.

Decentr (DEC) Price Comparison With Bitcoin

The below chart shows the price comparison between DEC and BTC. 

DEC vs BTC Price Comparison chart(Source: TradingView)

From the chart, we can identify the trend of the BTC and DEC is moving at the same level as the trend. More so, this indicates when the price of BTC increases or decreases, the price of DEC also increases or decreases respectively.

Conclusion

With the ongoing developments and upgrades that are taking place within the DEC platform. Decentr has a great future ahead in this crypto market. However, DEC can reach new heights.

Bullish DEC price prediction 2021 is $ 0.74. As mentioned above, it may reach great heights, however reaching $0.8, if investors have decided that DEC is a good investment in 2021.

FAQ

What is DEC?

Decentr (DEC) is a publicly accessible, open-source blockchain protocol that targets the consumer crypto loans market.

Where can you purchase DEC?

DEC is listed on many cryptocurrency exchanges that include  BKEX, CoinW, Hoo, Uniswap (V2), and Hotbit.

Will DEC reach a new ATH soon?

With the ongoing developments and upgrades inside the DEC platform, it has a high possibility of reaching its ATH soon

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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