Decred [DCR] was among the top gainers on the 22nd of February. The token’s prices have climbed by 14% in the last 24 hours.
The timings for the rally look perfect as a large percentage of the network supply remains locked.
According to a recent tweet from an analyst, 72% of the liquidity supply is locked, with only 28% available to the market. That tight circulating supply creates a structural bullish bias.
Technical breakout confirms a momentum shift
On the daily chart, DCR has broken out of a bullish symmetrical triangle consolidation pattern. Usually, breakouts from such formations often signal trend continuation.
At the same time, the RSI has just bounced from an oversold region. This suggests selling pressure has weakened and buyers are regaining control.
The token’s bullish momentum was rebuilding after weeks of consolidation.
Source: TradingView
Large holders are increasing
That’s not all; the number of unique addresses holding above 100K DCR has surged over the last 24 hours. This indicates accumulation from larger participants.
From past observations, when large holders expand positions during a breakout phase, it often strengthens the bullish outlook. The same scenario seems to be repeating for DCR.
Source: TradingView
Network activity signals reduced sell pressure
According to AMBCrypto’s recent analysis, DCR transaction fees have flattened over the past month. This suggests reduced transfer activity across the network.
Lower transfer activity can imply fewer tokens moving to exchanges. That often reduces immediate sell pressure.
Combined with the high percentage of locked supply, lower transfer activity strengthens the long-term holder sentiments. The alignment is essential for Decred’s projected rally.
Source: TradingView
What’s ahead for DCR?
DCR now has multiple bullish factors aligned.
In simple terms, the token’s technicals lean bullish with a 14% daily surge, symmetrical triangle breakout, and the stochastic RSI just rebounding from the oversold zone.
All in all, the long-term momentum indicators also signal a bullish trend continuation. DCR large-holder addresses are on the rise, and 72% of the supply liquidity is currently locked.
If sentiment remains positive, the rally could accelerate. However, sustained volume expansion will be key to confirming continuation.
Final Summary
- DCR surges 14% after breaking out of a symmetrical triangle, as 72% of supply remains locked.
- Stochastic RSI rebound and rising large-holder addresses strengthen the bullish continuation outlook.
Source: https://ambcrypto.com/decred-surges-14-what-dcrs-current-breakout-suggests/
