Streamr Coin (DATA) Technical Analysis 2021 for Crypto Traders

Streamr Coin (DATA) Technical Analysis 2021 for Crypto Traders

In Streamr DATA coin Technical Analysis 2021, we use past statistics, price patterns, RSI and various other DATA information to analyze the future trend of cryptocurrencies.

Streamr is a distributed open-source project . It mainly focused on data monetization and exchange.  It will use smart contracts to enable machines and people to exchange data through its network. Basically, the network will facilitate a market that allows anyone to publish or consume data.

Developers and users of distributed applications can access data streams on the Streamr network to obtain the data needed to run their DApps. For IoT, machines can transmit data to each other from all over the world. Moreover, DATA is an ERC20 Ethereum token.

Streamr Coin (DATA) Current Market Status

According to CoinGecko, the DATA price is trading at $0.18 with a 24-hour trading volume of $822,962,244, at the time of writing. However, DATA has increased by 53.3% in the last 24 hours.

Moreover, DATA has a circulating supply of 697,152,733 DATA. Currently, DATA trades in Binance, BiONE, HitBTC, Gate.io, and BKEX.

Streamr DATA Coin Technical Analysis 2021 

The recent development and upgrades might push Streamr Coin (DATA) to reach new heights. Now, let’s deep dive into the DATA technical analysis 2021. 

DATA/USDT Price Chart(Source: Tradingview)

The daily time frame  chart shows the Falling Wedge pattern of Streamr DATA coin.  In addition, the Falling wedge is a bullish pattern that starts from the top high and contracts as the price falls. However, this price movement forms a downward cone. When the highs and lows of a trend converge.

This shows that due to the huge volume of trade during this time, the price of DATA will continue to rise and in the near future it will surpass its all-time high price ever.

Streamr DATA Coin RSI, MACD, and MA

The below chart shows the Moving Average Convergence/Divergence (MACD) of DATA coin. In particular, MACD (blue) is still slightly higher than the signal indicator (orange line), forming a bullish crossover. This means that cryptocurrency traders can still expect more bullish days turnover.

Conversely, if the MACD signal starts to move below the indicator and makes a bearish crossover. Then crypto is more likely to reach new lows.

DATA coin RSI and MACD (Source: TradingView)

Now let’s look at the relative strength index (RSI) of DATA coin. As shown in the chart above, the RSI remains at level 70. This shows that DATA’s price is in an overbought state. However, this gives confidence for the traders to trade fearlessly.

DATA’s Moving Average (MA) and Exponential Moving Average (EMA) is shown in the chart below. In addition, MA is part of the technical analysis that helps traders find trends. While EMA is a type of moving average.

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

From the beginning of 2021, it is clear that the DATA coin price has shown many bullish patterns. Furthermore, taking all these into account, DATA coin could have a competitive market in 2021.

Conclusion

With the ongoing developments and upgrades that are taking place within the DATA coin platform. The cryptocurrency DATA coin has a fantastic future ahead in this crypto market. However, it is possible to see DATA coin reaching new heights.

Bullish DATA coin price prediction 2021 is $0.27. As said above, it may reach great heights, however reaching $1, if investors have decided that DATA coin is a good investment in 2021.

FAQ

What is Streamr DATA coin?

Streamr is a Distributed open-source project. The goal of the project is to build a decentralized infrastructure for realtime data, replacing the centralized message broker with a global peer-to-peer network. Its native token is DATA.

Where can you purchase DATA?

DATA is listed on many cryptocurrency exchanges that include Binance, BiONE, HitBTC, Gate.io, and BKEX. It is available for trading against crypto fiat coins, stablecoins, and other cryptocurrencies.

Will DATA reach a new ATH soon?

With the ongoing developments and upgrades within the DATA platform, it has the 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.

Recommended Articles

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.