Despite the falling wedge pattern, the DCR coin price shows a rising possibility of a bullish reversal in the daily chart.

Launched in 2016, Decred is an Ethereum-based protocol with its own token. The DCR token and the protocol were created to allow for an open and democratic governance system, community interactions as well as sustainable funding policies.

The driving force for the establishment of Decred is an organization named Company 0. Its purpose is to harness the potential that is available through Blockchain technology to improve security for personal data and allow organizations to be more flexible in their projects.

Let us read ahead to know more about DCR technical analysis.
<h2>Past Performance of DCR</h2>
The DCR coin price follows a downtrend momentum after the supply dump near the resistance level at $185. The falling prices break below multiple support levels and form a descending wedge pattern.

However, the falling prices find demand near the support zone at $60 and show consolidating moves in the daily chart.

<img src="https://s3.tradingview.com/snapshots/p/pqYtVDL3.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/pqYtVDL3/">DCR/USD Daily Chart</a>
<h2>DCR Technical Analysis</h2>
The sideways movement of DCR coin price above $60 within the descending wedge pattern hints at a bullish reversal. Moreover, the delay in lower low formation shows growing bullishness.

If the price manages to break above the resistance trendline of the wedge pattern, the following resistance levels are at $100 and $150. However, a bearish continuation can face demand near $50 and $30.

The RSI indicator at 42% shows a retracement to the 14 days SMA in the daily chart. The chances of slope getting support near the SMA is high as it remains influential for the past few months.

The MACD indicator shows a retracement in the MACD line while the signal line maintains the upward trend. Therefore, the possibility of a crossover is increasing as the histogram shows a weakness in an uptrend.
<h2>Upcoming Trend</h2>
The bullish breakout of the resistance trendline of the wedge pattern can be an excellent entry spot for bullish traders in <a href="https://www.cryptoknowmics.com/news/dcr-technical-analysis-pattern-fallout-hints-a-price-fall-to-65/">DCR</a> coin price. However, the bullish revolt lacks a commitment that can be undermined easily. That is why traders need to be patient and overcome the fear of missing out before taking a bullish entry.

DCR Technical Analysis: Downtrend Loses Momentum, Bulls Ready To Attack 

The DCR Technical Analysis shows that despite the falling wedge pattern, the coin shows a rising possibility of a bullish reversal in the daily chart.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

DCR Technical Analysis: Downtrend Loses Momentum, Bulls Ready To Attack

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