RATE Group | Decred (DCR) Cryptocurrency Suddenly Spikes Over 19%; What’s Next?
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Decred (DCR) Cryptocurrency Suddenly Spikes Over 19%; What’s Next?

03 Nov Decred (DCR) Cryptocurrency Suddenly Spikes Over 19%; What’s Next?

Posted at 08:46h in Cryptocurrency News by

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  • Decred makes upgrades to its public proposal system.
  • DCR surges over 19% in less than 24 hours.
  • A look at the 4-hour chart reveals DCR could retrace to $16 before it continues rising.

Autonomous cryptocurrency Decred (DCR) is skyrocketing after its community welcomed new developments surrounding Politeia, its own censorship-resistant blockchain-anchored public proposal system for funding projects.

In the last 24 hours, DCR jumped over 19% to hit a high of $18.50. The upward momentum was timed by a well-known technical pattern. Now, this cryptocurrency could be preparing for a further advance.

Decred Technical Analysis

The recent bullish impulse that took Decred to rise from a low of $15.50 to a high of $18.50 seems to be the result of a bull pennant. The bull pennant is a continuation pattern, which has developed on DCR’s 12-hour chart since Oct. 25.

The 26% upswing that DCR went through between Oct. 25-26 formed the flagpole of this technical pattern. Meanwhile, the…

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