Decred (DCR) Technical Analysis: Breakout Possible, but Which Way Will it Go?

Decred survived another red market today, holding on to a 4% gain against BTC and still one of the best performers in the top 30 over the last 48hrs. This sudden surge in interest has come at a great time for the project and is likely due to a number of new developments announced by the Decred team this week;

On September 12th, popular Chinese exchange, KuCoin, announced the listing of Decred on the platform which has helped encourage much needed bullish support during this market downturn.

The Decred dev team have also recently released the new 0.0 testnet on September 10th, which includes ‘merged debits’, bug fixes and sidechain tracking.

Right now, the asset is consolidating inside a triangle pattern which could break out either way depending on the fragile market at the moment. Can bulls continue to prop up the asset through the bear market, or will selling pressure break this positive sentiment? Let’s take a look.

On the 4hr DCR/BTC chart we can see that …

This article appeared first on Cryptovest

Like this: Like Loading...