DCR still looks good, is it about Bitcoin falling?
Coin of the day is Decred.
Returning to one of the growers in the present unfavorable for bitcoin time. While Bitcoin price is breaking all support levels and rolling down, dragging big players, there are good looking charts on the markets.
Decred (DCR) is a cryptocurrency project that prioritizes decentralized governance and decision making on the blockchain. It runs autonomously with improvements voted on and enacted directly by the miners and holders of the currency.
The team states that they aim to become an alternative cryptocurrency and tries to improve Bitcoin flaws. One of such problems - miners monopoly on bitcoin future. Decred team developed Proof of activity (POA) as an innovative hybrid of POW and POS and claims it ensures that both miners and users have the same amount of influence on the various activities of the network.
Decred also introduces a censorship-resistant blockchain-anchored public proposal platform, smart contracts, the possibility of cross-chain atomic swaps between various cryptocurrencies that enable network participants to carry trustless over-the-counter (OTC) trades without the involvement of any authority or a third party, and cross-platform wallets.
Technicals
DCRBTC were showing sustained growth for over a month now. On 17 May the coin broke above 0.012 resistance and turned it into support. Now the pair tends to the next strong resistance at the 0.015 level, not managing to reach that level, the overbought coin is showing slowdown signs at the 0.014 level and seems to be going into a correction. Nonetheless, the correctional movement could be a chance for investors to buy-in and continue the uptrend rally of the coin. Rising volumes above the 0.012 level could be a sign of a turnaround, breakthrough of 0.014 level will confirm a turnaround and send the pair testing the 0.015 resistance. Breakthrough of 0.015 will set the goal on the 2017.06 maximum at 0.019. 0.012 level and Bullish Trend Line should support an uptrend bias, breakthrough of this levels will start a lateral stagnation.
Returning to one of the growers in the present unfavorable for bitcoin time. While Bitcoin price is breaking all support levels and rolling down, dragging big players, there are good looking charts on the markets.
Decred (DCR) is a cryptocurrency project that prioritizes decentralized governance and decision making on the blockchain. It runs autonomously with improvements voted on and enacted directly by the miners and holders of the currency.
The team states that they aim to become an alternative cryptocurrency and tries to improve Bitcoin flaws. One of such problems - miners monopoly on bitcoin future. Decred team developed Proof of activity (POA) as an innovative hybrid of POW and POS and claims it ensures that both miners and users have the same amount of influence on the various activities of the network.
Decred also introduces a censorship-resistant blockchain-anchored public proposal platform, smart contracts, the possibility of cross-chain atomic swaps between various cryptocurrencies that enable network participants to carry trustless over-the-counter (OTC) trades without the involvement of any authority or a third party, and cross-platform wallets.
Technicals
DCRBTC were showing sustained growth for over a month now. On 17 May the coin broke above 0.012 resistance and turned it into support. Now the pair tends to the next strong resistance at the 0.015 level, not managing to reach that level, the overbought coin is showing slowdown signs at the 0.014 level and seems to be going into a correction. Nonetheless, the correctional movement could be a chance for investors to buy-in and continue the uptrend rally of the coin. Rising volumes above the 0.012 level could be a sign of a turnaround, breakthrough of 0.014 level will confirm a turnaround and send the pair testing the 0.015 resistance. Breakthrough of 0.015 will set the goal on the 2017.06 maximum at 0.019. 0.012 level and Bullish Trend Line should support an uptrend bias, breakthrough of this levels will start a lateral stagnation.
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