Why is Decred up by more than 15% today?

Why is Decred up by more than 15% today?
фото показано с : coinjournal.net

2022-4-18 12:50

The broader crypto market is underperforming at the moment, but Decred is rallying.

The broader cryptocurrency market has been struggling over the past few days, and the bearish trend could continue for the rest of the day. The market has lost more than 4% of its value in the last 24 hours.

Currently, the total cryptocurrency market cap has dropped to the $1.8 trillion level. If the bearish trend continues, the total crypto market cap could drop to the $1.7 trillion level before the end of the week.

Bitcoin and Ether, the two leading cryptocurrencies by market cap, have lost more than 3% of their values in the last 24 hours. Bitcoin has dropped below the $40k psychological level while Ether is trading below $3k for the first time in weeks.

However, DCR, the native token of the Decred ecosystem, is up by more than 18% in the last 24 hours. Thus, making it the best performer amongst the top 100 cryptocurrencies by market cap.

There is no clear catalyst behind DCR’s ongoing rally, with the broader market currently underperforming.

Key levels to watch

The DCR/USDT 4-hour chart is bullish as the coin has outperformed the market in the last 24 hours. However, the technical indicators show that it could be due for a trend reversal if the broader market continues with its current bearish performance. 

The MACD line is above the neutral zone, indicating bullish momentum. The 14-day RSI of 66 shows that DCR could enter the overbought region if it gains the support of the broader market. 

At press time, DCR is trading at $67.2 per coin. If the current momentum continues, DCR could rally past the $70 mark before the end of the day. However, it would need the support of the broader market to reach $75 over the coming hours and days.

DCR could drop below the first major support level of $63.4 if the broader market continues to be bearish. However, it should defend the second major support level at $59 over the next few hours.

The post Why is Decred up by more than 15% today? appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Decred (DCR) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $28.39
Капитализация $0 Rank 99999
Цена в час новости $ 67.28 (-100%)

decred today coin journal market crypto broader

Источник: coinjournal.net

decred today → Результатов: 31


Lisk [LSK], Bitcoin Private [BTCP] and 6 others gather support from Trezor

Today, Lisk [LSK] announced on Twitter that they have got support from Trezor, a hardware wallet providing security without sacrificing convenience. Earlier, Trezor had also announced that they have expanded coin and token support for Decred [DCR], Bitcoin Private [BTCP], Fujicoin [FJC], Groestlcoin [GRS], Vertcoin [VTC], Viacoin [VIA], and Zcoin [BUZZ]. Lisk’s post on Twitter | Source: Twitter […]

2018-6-29 02:06


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Traders dump Cardano and IOTA as they move to Vantard

Cardano and IOTA, two of the best-known players in the crypto industry, have underperformed the market over time as they evolved into ghost chains. A ghost chain is a blockchain whose coin is popular, but one that lacks a supportive ecosystem.

Crypto fear and greed index dive as focus shifts to Vantard

The crypto fear and greed index continued falling, reaching its neutral zone of 56, as most coins retreated.   Bitcoin moved to $68,000, much lower than this month’s high of $73,500. Similarly, Ethereum token fell to $2,400, while the total market cap of all cryptocurrencies dropped to $2.

Why experts are backing cryptos like Vantard, MEW, and Popcat

Cryptocurrency prices are doing well this year, with most of them outperforming traditional assets like the S&P 500, Nasdaq 100, and the Dow Jones. These indices have all jumped by over 15%, while Bitcoin has risen by almost 60%, and is hovering near its all-time high.

Growing number of Solana and Cardano investors are investing heavily in this utility token under $0.08

A growing number of smart money crypto investors are shifting their focus from Solana (SOL) and Cardano (ADA) to an emerging utility token priced under $0.08. The Rexas Finance token offers a unique value proposition with strong use cases in decentralized finance (DeFi) and real-world asset tokenization, making it an attractive alternative to more volatile […] The post Growing number of Solana and Cardano investors are investing heavily in this utility token under $0.08 appeared first on CoinJournal.