Decred Price Prediction – Will DCR Price Hit $200 Soon?

This Decred (DCR) Price Prediction 2022 article is based on technical analysis alone. Below, you will see the key measures that we have taken into consideration upon coming up with the DCR price analysis and prediction.

Among the cryptocurrencies that are rallying this year, Decred is perhaps one of the most surprising for some. It is not directly connected to Bitcoin, nor is it the most hyped cryptocurrency today.

But for those that are aware, Decred has been around since 2017. It recently made headlines after hitting almost $250.02 on April 17, 2021.

Can Decred reach $200 in 2022? We will find out shortly. But before we proceed to our Decred price analysis, let us first answer the question “What is Decred?” in this DCR prediction 2022 article.

What is Decred (DCR)?

Decred (DCR) is blockchain-related crypto launched in Feb 2016. Moreover, the Decred token and protocol were developed to help open governance, community interaction, and also sustainable policy on funding.

As per the official whitepaper, Decred was developed in such a way that the community approves all transactions and changes made as per the protocol. Hence, there is no path for big Decred holders to make the operation of the protocol. More so, the Decred was heavily influenced by Bitcoin and used many of the underlying principles of the original digital currency.

Notably, the Decred project was launched in 2016 by Company 0 and released its mainnet soon after. More so, it was led by Jake Yocom-Piatt and other software developers who contributed to btcsuite before. It forked bitcoin to allow a hybrid consensus system joining Proof-of-Work (PoW) and Proof-of-Stake (PoS) into the novel Proof-of-Activity (PoA).

The main aim was to better organize the development and decentralization of a cryptocurrency. Moreover, 60% of block rewards go to miners, and 30% are distributed to stakeholders to enable checks and balances. The final 10% is a subsidy to an autonomous treasury that disperses funding to projects related to voting through the blockchain.

Now that we have an idea about DCR, do you think DCR will be profitable crypto in 2022? Join me and let us see the charts in this DCR price analysis and DCR price prediction.

Decred (DCR) Current Market Status

As of the time of writing this Decred (DCR) price analysis, DCR trades at $65.66 with a 24-hour trading volume of $3,711,682. More so, the price of DCR has decreased by 1.19% in the last 24 hours.

Furthermore, DCR has a current circulating supply of 13,890,462.59 DCR. Currently, the top cryptocurrency exchanges for DCR are Binance, OKEx, Huobi Global, Gate.io, and KuCoin.

Now, let’s proceed to the next part of this DCR technical analysis for 2022.

Decred (DCR) Price Analysis 2022

Currently, Decred (DCR) holds 112th place on CoinGecko. But will the latest upgrades, development, and changes in the DCR blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this DCR price prediction article.

The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of the 1Day chart is 65.46.  This shows that DCR is showing a strong trend since it is between 50 and 70. This value can trigger a bullish run since more buyers might reposition as the value is moving further from the 70 RSI value which is the overbought region.

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for DCR/USDT, we can deduce that the price of DCR might remain bullish for some days since the price is increasing around the top of the channel. However, in the long-term, the price might get bullish since top cryptocurrencies like Bitcoin and Ethereum are already getting bearish from the recent bullish run.

From the chart above, the 200-MA is above the 100-MA which means that long-term investors would gain. However, since the gap between the two moving averages is large and the 100-MA is below the recent candlesticks, there might be a continuation of the recent bullish run.

Decred (DCR) Price Prediction

The chart below shows that Decred (DCR) has performed bullish over the past few days and has increased by 32.7% in the past 14 days. If this trend continues, DCR might run along with the bulls, overtaking its $88.5 at resistance1 level, and move higher to $139.6 at resistance3, the bullish signal for 2022.

Conversely, if the investors turn towards crypto, the bears might take over DCR from its uptrend position. In simpler terms, the price of DCR might decrease to $45.1 at support2 level, a bearish signal.

Meanwhile, our long-term DCR price prediction 2022 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $250.02 according to CoinMarketCap this year. However, that will only happen if it breaks many past psychological resistances.

Decred (DCR) Price Prediction 2022

If this bullish trend continues, Decred will hit $139.6 by the end of 2022. Moreover, the first half of 2022 is going to reveal fast growth, up to $88.5. Then the rise will slow down, but no major falls are expected. With upcoming partnerships and developments happening, reaching $200 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Decred (DCR) Price Prediction 2023

If DCR holds the support level around 90-MA which is the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $500, making it not plummet but play consistently.

Decred (DCR) Price Prediction 2024

As per the latest upgrades, developments, Decred price prediction, and new project forecasts of the platform, DCR investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of DCR in the crypto market, and it will be the best investment as the price can spike and reach around $900.

Decred (DCR) Price Prediction 2025

In the next four years, Decred price could race up to $1500. In addition, reaching this level could not be so difficult for DCR as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that DCR has a high possibility of reaching a new ATH soon in the next four years as per the prediction.

Decred (DCR) Price Prediction 2026

In the next five years, Decred price could race up to $2000. In addition, reaching this level could not be so difficult for Decred as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that DCR has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

Decred (DCR) has a bright future ahead of it in 2022. With the ongoing developments happening within the DCR ecosystem, as well as in the overall crypto market, we may see DCR reach new heights.

Bullish DCR price prediction for 2022 is $139.6. As said above, it may even reach $200 if investors have decided that HT is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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