<b><i>The DCR coin price struggles to rise above the resistance trendline of the falling wedge. Will this result in a bearish reversal to $40?</i></b>

<span style="font-weight: 400">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.</span>

<span style="font-weight: 400">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.</span>

<span style="font-weight: 400">Let us move ahead to read about Decred technical analysis.</span>
<h2><b>Past Performance of DCR</b></h2>
<span style="font-weight: 400">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.</span>

<img src="https://s3.tradingview.com/snapshots/e/eQCDAC3w.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/eQCDAC3w/"><span style="font-weight: 400">DCR/USD Daily Chart</span></a>
<h2><b>DCR Technical Analysis</b></h2>
<span style="font-weight: 400">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.</span>

<span style="font-weight: 400">The crucial <strong>Exponential Moving Averages</strong> (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.</span>

<span style="font-weight: 400">The </span><b>RSI Indicator</b><span style="font-weight: 400"> shows a sideways movement as it fails to rise above the central mark in the daily chart. Moreover, the slope gives a bullish crossover with the 14-day SMA.</span>

<span style="font-weight: 400">The </span><b>DMI Indicator </b><span style="font-weight: 400">shows a sharp rise in the +DI line as it rises above the -DI to indicate the start of a possible uptrend. However, the ADX below 16 indicates a weak trend momentum.</span>

<span style="font-weight: 400">Therefore, from a technical perspective, the DCR coin price might fail to sustain the bullish growth. Hence, a reversal is possible shortly.</span>
<h2><b>Upcoming Trend</b></h2>
<span style="font-weight: 400">The DCR coin is at $60 at press time, close to a supply zone in the daily chart. Therefore, closing below the support zone will signal an excellent selling spot. And, an unlikely closing above the resistance trendline of the falling wedge will illuminate a buying frenzy. </span>

<span style="font-weight: 400">Support levels below the supply zone of $60 are present at $50 and $40, above the support trendline. And, the resistance levels above the falling wedge are at $85 and $100.</span>

At the time of writing, TradingView gives a "SELL" signal for the DCR token.
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<div class="tradingview-widget-copyright"><a href="https://in.tradingview.com/symbols/DCRUSD/technicals/" target="_blank" rel="noopener"><span class="blue-text">Technical Analysis for DCRUSD</span></a></div>
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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?

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: Sellers Dominate Trend with 50-Day EMA

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