- The short and medium-term outlook is in a downtrend.
- Selling at key areas may be considered.
DCR/USD Medium-term Trend: Bearish
Supply zone: $30.00, $35.00, $40.00
Demand zone: $15.00, $10.00, $5.00
DCRUSD is in a bearish trend in the medium-term outlook. The break of the two EMAs by the bearish candle shortly after yesterday opening at $28.53 was a confirmation of the bears’ takeover of the market.
The cryptocurrency dropped to $27.16 in the demand area before bearish flag formation that led to a further drop to $26.30 before the end of the session.
The bears continued to push price further downward as today session opened on a bearish note at $26.72. Increased pressure led to a further drop to $25.29 created the second flag and the bears returned for another drop to $24.69 in the demand area.
The third bearish flag is currently unfolding which may also return the bears for another drop to the south with $23.00 as the initial target in the medium-term.
DCR/USD Short-term Trend: Bearish
The journey down south by the bears began as the market opens yesterday 3rd June with a bearish candle at $29.15. The cryptocurrency fell to $27.13 as the low of the day before the end of the session.
Todays saw session was dominated by the bears with a large bearish candle at $27.88. DCRUSD was down initially at $25.29 and created a flag. Increased bearish pressure led to the break from the flag and price dropped $24.69 in the demand area.
Currently, a flag is been created which was necessary for the market correction and to confirm the downtrend continuation.
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