Drep [new] Price Prediction – How Much Will DREP Be Worth in 2021?

Drep [new] Price Prediction – How Much Will DREP Be Worth in 2021?
  • Bullish DREP price prediction ranges from $1.1 to $1.86.
  • The DREP price might also reach $2.99 soon.
  • DREP bearish market price prediction for 2021 is $0.3.

In Drep [new] price prediction 2021, we use statistics, price patterns, RSI, and much other information about DREP to analyze the future movement of the cryptocurrency.

DREP stands for Decentralized Reputation System. It allows Internet platforms to quantify, monetize, and share the value of reputation. It’s aim is to provide blockchain infrastructure and a decentralized reputation protocol. This will allow existing Internet platforms to enhance their reputation value and provide interconnection between reputation data in the Internet community.

According to CoinGecko, the DREP price is trading at $0.76 with a 24-hour trading volume of $2,381,109 at the time of writing. Moreover, DREP has decreased by 3.2% in the last 24 hours.

Currently, DREP trades in cryptocurrency exchanges such as Binance, Gate.io, CoinW, VCC Exchange, and Hotbit.

Drep [new] (DREP) Price Prediction 2021

DREP price prediction 2021 is explained below with a daily time frame.

DREP/USDT Price Chart Daily Time Frame (Source: TradingView)

The price action contained between two parallel upward sloping lines is defined as an ascending channel. Higher highs and lower lows distinguish this price pattern. An ascending channel is formed by connecting the swing lows with a lower trend line and the swing highs with an upper channel line.

A breakout above an ascending channel may indicate that the upward trend will continue, whereas a breakdown below an ascending channel may indicate that the trend will change.

In the daily time frame chart, if the price of the DREP breaks the resistance level of $1.86, it will reach the target of $2.99. Or else, if the price of the DREP breakout will fall to the support level at $0.30. So, the trend of the DREP is based on the breakout.

Drep [new] (DREP) Support and Resistance Level

The below chart shows the support and resistance level of DREP.

DREP/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of DREP.

  • Resistance Level 1 – $1.1
  • Resistance Level 2 – $1.86
  • Resistance Level 3 – $2.99
  • Support Level 1- $0.65
  • Support Level 2 – $0.45
  • Support Level 3 – $0.30

The charts show that DREP has performed a bullish trend over the past month. If this trend continues, DREP might run along with the bulls overtaking its resistance level at $2.99.

Accordingly, if the investors turn against the crypto, the price of the DREP might plummet to almost $0.30, a bearish signal.

Drep [new] (DREP) Average Directional Index (ADX)

Now let’s see the average directional index (ADX) of DREP. Generally, the Average Direction Index (ADX) helps traders determine the strength of a trend, rather than its actual direction. It can used to determine whether the market is changing or a new trend is starting. It associated with the Directional Movement Index (DMI) and includes the ADX line.

The range of the oscillator is from 0 to 100. A high value indicates a strong trend, and a low value indicates a weak trend. It often combined with directional indicators.

DREP/USDT ADX(Source: TradingView)

The above chart shows the ADX of DREP stays above the range of 34.06, so it indicates a strong trend.

Conclusion

DREP is one of the cryptos that keeps its ground against the bearish market. Hence more, our long-term DREP price prediction for 2021 is bullish. It has a huge possibility overtaking its current all-time-high (ATH) of $3.98 this year. More so, this will only happen if it breaks many past psychological resistances.

Henceforth, with the ongoing developments and upgrades within the DREP ecosystem, it could experience a great future ahead in 2021. It may reach $1.86 soon and it might even reach high heights, however reaching $2.99, if investors have planned that DREP is a good investment in 2021.

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.

Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.