Streamr DATAcoin Price Prediction 2021 – Will DATA Hit $0.5 Soon?

Streamr Price Prediction 2021 - Will DATA Hit $0.5 Soon?

In Streamr DATAcoin price prediction 2021, we use statistics, price patterns, RSI, and much other information about DATA to analyze the future movement of the cryptocurrency. 

Streamr is a distributed open-source platform, which was crowdfunded in 2017. Moreover, the project’s goal is to create a decentralized infrastructure for real-time information, replacing centralized message brokers with a global peer-to-peer network. More so, through relying on cryptography rather than trust, the open-source network focuses to enable data sharing and monetization in IoT and smart cities, business consortia, individual crowd selling through the decentralized web and Data Unions.

According to CoinGecko, the DATAcoin price is trading at $0.115 with a 24-hour trading volume of $18,951,316, at the time of writing. However, DATA has decreased by 0.83% in the last 24 hours.

Moreover, DATAcoin has a circulating supply of 891,072,680.46 DATA. Currently, DATA trades in cryptocurrency exchanges such as Binance, HitBTC, BiONE, Gate.io, and Pionex.

Streamr DATAcoin Price Prediction 2021

Streamr (DATA) holds the 269th position on CoinGecko right now. Streamr DATAcoin price prediction 2021 explained below with a daily time frame.

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

The above chart shows the Symmetrical Triangle patterns. Generally, a symmetrical triangle is made up of a downward diagonal upward trend line and an upward diagonal downward trend line. When the price rises, it will inevitably break through the upper trend line to break, and in an uptrend, the price will rise or break. A lower trend line forms a breakthrough and a downward trend in which prices fall.

DATAcoin Support and Resistance Level

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

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

From the above daily time frames, it is clear the following are the resistance and support level of DATA.

  • Resistance Level 1 – $0.13
  • Resistance Level 2 – $0.2
  • Resistance Level 3 – $0.31
  • Support Level 1 – $0.083
  • Support Level 2 – $0.049
  • Support Level 3 – $0.033

The charts show that DATAcoin has performed a bullish trend over the past month. If this trend continues, DATA might run along with the bulls overtaking its resistance level at $0.31.

Conversely, if the investors turn against the crypto, the price of DATA might plummet to almost $0.083, a bearish signal.

Streamr DATAcoin Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of DATA. Generally, the Average Direction Index (ADX) helps traders determine the strength of a trend, rather than its actual direction. It can be used to determine whether the market is changing or a new trend is starting. It is associated with the Directional Movement Index (DMI) and basically 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 is often combined with directional indicators. 

DATA/USDT ADX
DATA/USDT ADX(Source: TradingView)

The above chart shows the ADX of DATA stays above the range of 9.3, so it indicates a sideways trend.

Conclusion

The DATAcoin is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term Streamr DATAcoin price prediction 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $0.37 this year. However, this will only happen if it breaks many past psychological resistances.

Furthermore, with the ongoing developments and upgrades within the DATA ecosystem, it could experience a great future ahead in 2021. It may reach $0.3 soon and it might even reach high heights, however reaching $0.5, if investors have planned that DATAcoin 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.

Recommended Article

Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.