DCR Technical Analysis: Buyers Struggle To Gain Trend Control

DCR price action shows growth of bullish influence over the consolidation range but struggles to form a decisive bullish candle. Key technical points: The DCR price has increased by 9.46% in the last 24 hours. The price action shows a sideways trend above the $30 mark. The 24-hour trading volume of Decred is $14.90 Million, indicating a hike of 720%. Past Performance of DCR DCR prices show a sharp fall from the 100-day EMA in April resulting in a dip to the $30 mark, as forecasted in our previous analysis. The falling trend develops into a sideways trend thanks to the V-shaped reversal that created a ceiling of resistance at $40. However, the bullish influence over the consolidation increases evident by the boom in trading volume. Source- Tradingview DCR Technical Analysis DCR price action shows a long streak of Doji formations before the bullish surge but fails to form a bullish engulfing candlestick. Hence, the indecisiveness is evident in the price action and warns of a fallout death spiral continuation. The most important daily EMAs (50 100, 100, and 200-days) continue to fall in an upward direction, along with the 50-day EMA that provides dynamic resistance. Thus, the EMAs exhibit an extended correction phase. Its MACD along with the line of signal display an upward trend, with an increase in the buying pressure as evidenced by the rising trend of bullish histograms. In addition, the RSI indicator shows an increasing tren...