Decred: Bullish Breakout Imminent?

Considering the prevailing bullish sentiment in the market and the pattern observed on other cryptocurrencies throughout the crypto sphere that have broken out of a prolonged accumulation phase, it can be expected that DCR will eventually follow the general trend and repeat the pattern that we have already seen on many other coins. Decred has been facing resistance at the $18.3 level since May 2023, but recent price action on the 1-hour and 4-hour timeframes indicates a breakout and retest above this level. The next significant level to watch is $21.4, which has historically been a key support/resistance level for Decred. While there are signs of weakness on the 1-hour timeframe, such as candles with long shadows that could provoke short positions, there is still no confirmation of a breakdown in the upward structure. The 1-week candle seems strong, and the overall asset shows significant buying volume. This indicates that Decred may be able to consolidate above $21.4 and keep moving upwards successfully. A breakout and consolidation above $21.4 could lead to increased volatility and larger price swings on higher timeframes, with potential profit-taking zones and resistance levels at $50, $67, and $85. Additionally, the February 2023 high of $28.52 may also present a next strong resistance level in the short-term future.