- From the Fibonacci retracement tool, the bearish trend has broken the 0.236, 0.382 and 0.50 Fib. retracement levels.
- From every indications, the current trend has been terminated.
DCR/USD Medium-term Trend: Ranging
- Resistance Levels: $27.0, $30 ¸ $32.50
- Support levels: $25 0, $22.5, $20.0
Yesterday, June 6, the price of DCR was in a bullish trend. On May 15, the price of DCR reached a high of $32.50 but the bulls were resisted at the $32.50 overhead resistance level. The crypto commenced a downward correction to the support of the 12-day EMA. The bearish pressure continued as the bears broke the 12-day EMA and 26-day EMA. The crypto’s price is below the EMAs which indicate that price is likely to fall. From the Fibonacci retracement tool, the bearish trend has broken the 0.236, 0.382 and 0.50 Fib. retracement levels.
The first two zones are continuation zone for any trending market. The 0.50 Fib.retracement level is a downtrend zone where the crypto’s price has reached the zone where the trend is being reversed. From every indication, the current trend has been terminated. Meanwhile, the price of DCR is in the oversold region but above the 40% range. This indicates that price is in a bullish momentum and a buy signal.
DCR/USD Short-term Trend: Bullish
On the 1-hour chart, the DCR price was in a bullish trend. The price of DCR was in a bullish trend to test or break the overhead resistance level. The crypto’s price was making a series of higher highs and higher lows.
The bulls reached the overhead resistance level but could not break it. The bullish trend has also been terminated by a bearish candlestick. When a candlestick breaks a trend line and another on closes on the opposite of it, it is assumed that the price of the current trend has been terminated.
Please add a valid coin_id. You can get it from coin page’s url (slug or short name).
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Like what you read? Give us one like or share it to your friends