The Streamr DATAcoin is a token that powers the decentralized data marketplace, which allows users to trade their data for tokens. It has seen an impressive year-to-date performance, but will it continue its upward trend?
We utilize data, price trends, RSI, and other information about DATA to evaluate the cryptocurrency’s future movement in Streamr DATAcoin price forecast 2021.
Streamr is an open-source, distributed platform that was crowdfunded in 2017. Furthermore, the project’s aim is to build a decentralized infrastructure for real-time information, with a worldwide peer-to-peer network replacing centralized message brokers. More specifically, the open-source network focuses on enabling data sharing and monetization in IoT and smart cities, corporate consortia, individual crowd selling via the decentralized web, and Data Unions by depending on encryption rather than trust.
At the time of writing, the DATAcoin price was $0.115, with a 24-hour trading volume of $18,951,316, according to CoinGecko. DATA, on the other hand, has down 0.83 percent in the past 24 hours.
Furthermore, the circulating supply of DATAcoin is 891,072,680.46 DATA. DATA currently trades on Binance, HitBTC, BiONE, Gate.io, and Pionex, among other cryptocurrency exchanges.
Price Prediction for Streamr DATAcoin in 2021
Streamr (DATA) is now ranked 269th on CoinGecko. The price of Streamr DATAcoin in 2021 is forecasted using a daily time period.
Daily Time Frame DATA/USDT Price Chart (Source: TradingView)
The Symmetrical Triangle patterns are shown in the graph above. A symmetrical triangle consists of a downward diagonal upper trend line and an upward diagonal descending trend line, in general. When the price rises, it will eventually break through the upper trend line, and the price will either climb or break in an uptrend. A break in the lower trend line results in a downward trend in which prices decrease.
Support and Resistance Levels for DATAcoin
The chart below depicts DATA’s support and resistance levels.
Support and Resistance Levels (DATA/USDT) (Source: TradingView)
The resistance and support levels of DATA are clearly visible in the above daily time frames.
- $0.13 is the first level of resistance.
- Level 2 Resistance – $0.2
- $0.31 is the third level of resistance.
- Level 1 Support – $0.083
- Level 2 Support – $0.049
- $0.033 is the third level of support.
Over the last month, the charts indicate that DATAcoin has been on a positive trend. If the current trend continues, DATA may catch up with the bulls and break over the $0.31 resistance mark.
In the event that investors turn against cryptocurrency, the price of DATA may fall to around $0.083, indicating a negative indication.
Average Directional Index of Streamr DATAcoin (ADX)
Let’s take a look at DATA’s average directional index (ADX). The Average Direction Index (ADX) is a tool that traders use to assess the strength of a trend rather than its direction. It may be used to see whether the market is shifting or if a new trend is beginning. It’s linked to the Directional Movement Index (DMI) and consists mostly of the ADX line.
The oscillator has a range of 0 to 100. A strong trend is indicated by a high value, whereas a weak trend is shown by a low value. It is often used in conjunction with directional indicators.
ADX/DATA/USDT (Source: TradingView)
The ADX of DATA remains above the range of 9.3 in the chart above, indicating a horizontal trend.
The DATAcoin is one of the cryptos that has managed to hold its ground in the face of a negative market. In addition, our Streamr DATAcoin price forecast for 2021 is optimistic. This year, it has a good chance of surpassing its current all-time high (ATH) of $0.37. However, this will only happen if it overcomes a number of previous psychological barriers.
Furthermore, the DATA environment may have a bright future ahead of it in 2021, thanks to continuing improvements and enhancements. It may soon reach $0.3 and even higher levels, but it is more likely to reach $0.5, if investors believe that DATAcoin is a solid investment in 2021.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
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