- The short and medium-term outlook is in a downtrend.
- $26.00 remained a target for the bears.
DCR/USD Medium-term Trend: Bearish
Supply zone: $30.00, $32.00, $34.00
Demand zone: $15.00, $14.0, $13.00
DCRUSD continues in a bearish trend in the medium-term outlook. The bears lost momentum at $26.32 in the demand area on 24th July few pips short of $26.00 target predicted. The bulls gradually stage a returned that pushed the coin up at $28.26 in the supply area as today session opened on a bullish note.
The lack of momentum for upward continuation led to a drop in price with the bears taking control of the market.
DCRUSD fell initially to $27.05 and later to $26.64 in the demand area. The downward movement may continue to $26.00 in the demand area as confirmed by the signal stochastic oscillator pointing down at 32% suggesting downward continuation in the medium-term.
DCR/USD Short-term Trend: Bearish
The trendline was resistance against upward price movement as price rose to $28.19 in the supply area shortly after opening. A bounce to the downside expectedly occurred with a drop to $26.64 in the demand area.
A correction is ongoing with a rally to the trendline as indicated by the signal of the stochastic oscillator pointing up at 32% before the bears returned for continuation in the short-term.
$26.00 in the demand area is the bears’ target in the demand area in the short-term.
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