{"id":433538,"date":"2022-04-18T18:14:03","date_gmt":"2022-04-18T15:14:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/decred-price-soars-45-in-one-day-three-weeks-before-a-major-hard-fork\/"},"modified":"2022-04-18T18:14:03","modified_gmt":"2022-04-18T15:14:03","slug":"decred-price-soars-45-in-one-day-three-weeks-before-a-major-hard-fork","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/decred-price-soars-45-in-one-day-three-weeks-before-a-major-hard-fork\/","title":{"rendered":"# Decred price soars 45% in one day three weeks before a major hard fork"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a303ae3d3b91\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a303ae3d3b91\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/decred-price-soars-45-in-one-day-three-weeks-before-a-major-hard-fork\/#%E2%80%9D_Decred_price_soars_45_in_one_day_three_weeks_before_a_major_hard_fork_%E2%80%9C\" >&#8221; Decred price soars 45% in one day three weeks before a major hard fork  &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/decred-price-soars-45-in-one-day-three-weeks-before-a-major-hard-fork\/#Key_Decred_network_upgrade_in_three_weeks\" >Key Decred network upgrade in three weeks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/decred-price-soars-45-in-one-day-three-weeks-before-a-major-hard-fork\/#What_do_DCR_technicals_say\" >What do DCR technicals say?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Decred_price_soars_45_in_one_day_three_weeks_before_a_major_hard_fork_%E2%80%9C\"><\/span>&#8221; Decred price soars 45% in one day three weeks before a major hard fork  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Decred (DCR) prices soared by as much as 45% on April 18 before paring some gains as traders bet on a major hard fork that aims to prevent pump-and-dump schemes by miners.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Decred_network_upgrade_in_three_weeks\"><\/span>Key Decred network upgrade in three weeks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>DCR rallied by nearly 45% to over $86 in one day, its highest level in four months. Moreover, the massive upside move accompanied a similarly huge spike in its trading volumes, confirming that most traders backed the intraday bullish momentum.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/3a700f2a-51bb-49ff-9c75-6f99abf9d81f.png\"><figcaption style=\"text-align: center;\"><em>DCR\/USD daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Traders flocked to buying Decred ahead of a key upgrade slated for early May that would reduce the DCR mining reward share to 10% from the current 60%. <\/p>\n<p>The update comes in response to a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/proposals.decred.org\/record\/427e1d4\">community vote<\/a> that agreed to limit &#8220;malicious miners&#8221; \u2014 those with a history of artificially pumping-and-dumping DCR \u2014 from accessing Decred.<\/p>\n<p>On the other hand, the community agreed to raise the rewards for Decred&#8217;s proof-of-stake validators \u2014 entities that validate blocks submitted by miners \u2014 from 30% to 80%, suggesting that consensus wants to switch primarily away from PoW consensus to PoS on-chain governance.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">pow and pos both have notable strengths, but we have found that the typically-overlooked risk of a mining cartel suppressing markets with its inventory is a massive downside to pow.<\/p>\n<p>the revolution will not be suppressed <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Decred?src=hash&amp;ref_src=twsrc%5Etfw\">#Decred<\/a><\/p>\n<p>\u2014 Jake Yocom-Piatt (@behindtext) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/behindtext\/status\/1514627077340909571?ref_src=twsrc%5Etfw\">April 14, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Simply put, Decred users would be incentivized for locking up their DCR for a certain period, thus reducing their active supply from the market, which could bolster price.<\/p>\n<p>&#8220;DCR block reward change is in 20 days,&#8221; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PermabullNino\/status\/1515734818503331843\">noted<\/a> Permabull Ni\u00f1o, an independent market analyst, saying that it should be the reason for traders to watch the Decred market closely in the coming sessions. Excerpts:<\/p>\n<blockquote><p>&#8220;If price starts moving while staking rewards go up could create a decent wealth effect\/reflexively bullish price action. As always, barring a BTC plunge.&#8221;<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"What_do_DCR_technicals_say\"><\/span>What do DCR technicals say?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Decred&#8217;s price corrected by nearly 20% soon after topping out for the day near $86, a level near DCR&#8217;s two key resistance levels: the 200-day exponential moving average (200-day EMA; the blue wave) around $78 and the 23.6 Fib line near $96.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/dfc3d932-a62b-4fba-880a-5ce8781b04b0.png\"><figcaption style=\"text-align: center;\"><em>DCR\/USD daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>A decisive break above the two price ceilings could have DCR test $125 as its next upside target. Nonetheless, multiple indicators suggest that its likelihood of rallying further is limited. That includes a bearish divergence between the DCR&#8217;s rising prices and falling momentum (as indicated by its relative strength index).<\/p>\n<p><strong><em>Related:\u00a0BTC could drop to $30K in 2 weeks, trader warns as gold goes for $2K high<\/em><\/strong><\/p>\n<p>Additionally, the DCR price action on April 18 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared very similar to massive upside moves witnessed since December 2021 \u2014 each showing the token forming daily candles with large bullish wicks. <\/p>\n<p>None of those price booms led to substantial followups, suggesting that market participants had been merely pumping-and-dumping DCR to secure interim profits.<\/p>\n<p>As a result, DCR now risks plunging to its im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te support target near the 50-day EMA (the red wave) near $60.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/decred-price-soars-45-in-one-day-three-weeks-before-a-major-hard-fork\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Decred price soars 45% in one day three weeks before a major hard fork &#8220; Decred (DCR) prices soared by as much as 45% on April 18 before paring some gains as traders bet on a major hard fork that aims to prevent pump-and-dump schemes by miners.\u00a0 Key Decred network upgrade in three weeks&#8230;<\/p>\n","protected":false},"author":1,"featured_media":433539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvYzY4OGEzMzctY2VkOS00OWRiLThmMDAtODQ5ZjEzMzRlYjkxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,107431,81085,74939,75150,75042,74876,75578,91283,78261,73785,71407],"class_list":["post-433538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-cryptocurrency-investment","tag-decred","tag-market-analysis","tag-market-update","tag-mining","tag-proof-of-stake","tag-proof-of-work","tag-pump-and-dump","tag-tech-analysis","tag-markets","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/433538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=433538"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/433538\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/433539"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=433538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=433538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=433538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}