Here is the twit: https://twitter.com/binance/status/10545...
Right after the news price started to move up as well as the trade . Trade went crazy, and has reached $9,000,000 from just $850,000. This is over x10 times increase in , resulting in a 33% gain in less than 24h period. Such rise has made
Decred a top 1 gainer from the top 100 coins in the coinmarketcap.com. Most trade came from Bittrex and Huobi, but perhaps it will be shared equally with Binance, once DCR will be added to their listings.
All-in-all, the market reaction has been extremely positive on these news. At the same time oscillator showing that Decred is overbought, which could result in a correction down especially after such a strong pump.
The upper of the has been reached, but not broken, along with the 38.2% - a $50 physiological resistance.
If/when todays’ high at $52.4 will be taken out, next stop seems to be $60. Not only this is the next physiological resistance but also an important level - 61.8%. On the way up there is one more obstacle that should not be ignored, that is 50% fibs at $55.
Currently, further price increase by Decred is a doubtful scenario, while it could have performed a simple pump and dump maneuver, rather than a healthy demand. DCR/USD might need some time to “think” as to what to do next. Either a correction down to $40 area and then consolidation or a break above the recent high, targeting $60 and beyond? Hopefully, DCR will reveal the plan soon.