DREP is an emerging altcoin sporting an interesting concept. DREP is a new financial tool that provides the ability to self-sovereign identity through blockchain technology. This means that developers can provide the functionality to create their own tokens which are then usable within the DREP ecosystem.
Drep (decentralized protocol) is a new blockchain-based decentralized application (dapp) which plans to be the social media for society. Its main function is to give users the ability to run their own mobile game development platform, game creation tools, game server, game management system, game ranking system, game statistics system, game reward system, game game, game training system, game review system, game content management system, game community, game matchmaking system, game payment system, game advertising system, game proof of existence system, game proof of ownership system, game proof of update system, game proof of play system, game proof of donation system, game proof of purchase system, game proof of exchange system, game proof of activity
DREP (DrepToken) is a new altcoin that was released on February 8th, 2019. The coin has very little liquidity, and therefore the price cannot be determined at this point. For this reason, we will make a prediction based on the information we have available.
- The range of bullish DREP price predictions is $1.1 to $1.86.
- The DREP pricing may likewise be approaching $2.99 in the near future.
- For 2021, the DREP pessimistic market price forecast is $0.3.
We utilize data, price trends, RSI, and other information about DREP to evaluate the cryptocurrency’s future movement in Drep [new] price forecast 2021.
Decentralized Reputation System (DREP) is an acronym for Decentralized Reputation System. It enables Internet platforms to measure, monetize, and share reputation value. Its goal is to offer decentralized reputation and blockchain infrastructure. Existing Internet platforms will be able to improve their reputation value and offer connectivity between reputation data in the Internet community as a result of this.
At the time of writing, the DREP price was $0.76, with a 24-hour trading volume of $2,381,109, according to CoinGecko. DREP has also dropped by 3.2 percent in the past 24 hours.
DREP is currently traded on Binance, Gate.io, CoinW, VCC Exchange, and Hotbit, among other cryptocurrency exchanges.
Price Prediction for Drep [new] (DREP) in 2021
With a daily time period, the DREP price forecast for 2021 is given below.
Daily Time Frame DREP/USDT Price Chart (Source: TradingView)
An ascending channel is defined as the price movement that occurs between two parallel upward sloping lines. This price pattern is defined by higher highs and lower lows. Connecting the swing lows with a lower trend line and the swing highs with an upper channel line forms an ascending channel.
A breakthrough above an ascending channel may signal that the rising trend will continue, while a breakdown below an ascending channel could signal that the trend will shift.
If the DREP price breaks through the resistance level of $1.86 on the daily time frame chart, it will achieve the goal of $2.99. Alternatively, if the price of the DREP breakout falls below the $0.30 support level. As a result, the DREP’s trend is predicated on the breakout.
Support and Resistance Level (DREP) (DREP) (DREP) (DREP) (DREP) (DREP) (DREP) (DREP
The chart below depicts DREP’s support and resistance levels.
Support and Resistance Levels in DREP/USDT (Source: TradingView)
The resistance and support levels of DREP are clearly visible in the above daily time period.
- $1.1 is the first level of resistance.
- $1.86 is the second level of resistance.
- $2.99 for Level 3 Resistance
- Level 1 Support: $0.65
- Level 2 Support – $0.45
- Level 3 Support – $0.30
Over the last month, the charts indicate that DREP has been in a bullish trend. If the current trend continues, DREP may catch up with the bulls and break over the $2.99 resistance level.
As a result, if investors turn against cryptocurrency, the price of the DREP may fall to almost $0.30, signaling a negative signal.
Average Directional Index (DREP) (DREP) (DREP) (DREP) (DREP) (DREP) (DREP) (DREP (ADX)
Let’s look at DREP’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 contains the ADX line and is linked to the Directional Movement Index (DMI).
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’s often used in conjunction with directional indications.
The ADX of DREP remains above the range of 34.06 in the chart above, indicating a strong trend.
DREP is one of the cryptos that has managed to hold its ground in a negative market. As a result, we have a positive long-term DREP price forecast for 2021. This year, it has a good chance of surpassing its current all-time high (ATH) of $3.98. This will only happen if it overcomes numerous previous psychological barriers.
With the continuous improvements and enhancements inside the DREP ecosystem, the ecosystem may have a bright future in 2021. If investors have anticipated that DREP is a solid investment in 2021, it may hit $1.86 shortly, and it may even achieve great heights, reaching $2.99.
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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Frequently Asked Questions
What is the future of DREP coin?
The future of DREP coin is unclear.
Will ReddCoin go up?
The price of ReddCoin is currently unknown.
Will Ncash go up?
No, Ncash is not going to go up.
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