DCR Technical Analysis: Sellers Dominate Trend with 50-Day EMA

The DCR coin price struggles to rise above the resistance trendline of the falling wedge. Will this result in a bearish reversal to $40? The primary vision that led to the creation of Decred was of an enterprise called Company 0. The mission of Company 0 is to use the abilities of blockchain to protect personal data more possessively and to bring organizational liberty to projects. Decred, a blockchain-based cryptocurrency, is present in the crypto-verse since 2016. The DCR token and the network help to facilitate open governance, community interaction, and sustainable funding policies. Let us move ahead to read about Decred technical analysis. Past Performance of DCR The DCR coin price shows a growth of 7.8% in the past hours with a 150% jump in the intraday trading volume. However, the rally fails to rise above the supply zone near the $60 mark. Moreover, the rally retests the previous bearish fallout. Therefore, a bearish continuation is possible. DCR/USD Daily Chart DCR Technical Analysis The DCR coin price action shows rejection from a high selling pressure area near the resistance trendline of a falling wedge pattern. In the daily chart, the freshly forming long-wick candle indicates an increase in underlying bearish sentiment. The crucial Exponential Moving Averages (50, 100, and 200) maintain a bearish trend with the 50-day EMA providing dynamic resistance. The recent rejection comes from sellers-dominated 50-day EMA. ...