Decred Cryptocurrency Forecast

Green day on Thursday for Decred
(Updated on Apr 25, 2024)

DCRUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. The Decred cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $24.09. On a fall, the cryptocurrency will find some support from the short-term average at $22.32. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -24.88%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely.

Support, Risk & Stop-loss for Decred cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $20.61 and $18.77. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, Decred finds support just below today's level at $20.61. If this is broken, then the next support from accumulated volume will be at $18.77 and $18.10.

This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $1.79 between high and low, or 7.93%. For the last week, the cryptocurrency has had daily average volatility of 6.26%.

Our recommended stop-loss: $22.29 (-5.60%) (This cryptocurrency has high daily movements and this gives high risk. There is a sell signal from a pivot top found 42 days ago.)

Trading Expectations (DCRUSD) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Decred to open at $23.52, and during the day (based on 14 day Average True Range), to move between $21.66 and $25.56, which gives a possible trading interval of +/-$1.95 (+/-8.28%) up or down from last closing price. If Decred takes out the full calculated possible swing range there will be an estimated 16.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $24.71 (4.66%) than the support at $20.61 (12.71%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Decred cryptocurrency A Buy?

Decred holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.691 Hold/Accumulate Unchanged

Predicted Opening Price for Decred of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.