There are spot sell walls layered all the way up to around $290. A good strategy could be to trigger short covering first, using that buying pressure to build momentum and absorb the sell walls on the way up.
Ultimately, though, the key will be attracting fresh capital and sustaining long-term buying demand.
$DCR The short sellers are going all out trying to dump the price. Then again, if their dump fails, they could end up bankrupt—or even facing legal consequences. No wonder they’re so desperate. That’s what broke losers do.
$DCR Perfect buy. It’s nice and quiet now that all the clueless, bearish amateurs who never understood the supply model have disappeared. Did they panic-sell after staring at the chart all day and finally get flushed out of the market?
$DCR My brother! Have you finally cut away the stupidity, weakness, and dead weight? Time to get shredded and level up. From here, we’re only going higher.
$DCR Invest at your own risk. Don’t waste your time on clueless idiots blaming others or picking fights over other people’s opinions — they’re usually just broke losers one step away from rock bottom anyway.
$DCR Nice bullish daily candle forming now. Just like I thought, the weekly trendline was a strong resistance level. If the daily candle closes properly, I think we’ll keep pushing higher from here.
$DCR My take: Even though the buy wall on Decred is getting thicker, the price isn’t moving up because as long as buy orders are sitting there, sellers keep feeding into them — so there’s no need to market buy yet.
Once the dumpers run out of sell pressure, people will have no choice but to start buying at market. Until then, it’s just a waiting game.
Personally, I think it’s cheap right now, so I’m buying.
$DCR I still think Decred is being dumped. You can tell from people panicking and coming at me, too.
Some clueless folks say there’s no demand, but if that were really the case, there’d be no need to stack sell walls like this—they’d just dump everything at market.
At these prices, you can just buy, go long, and win.
$DCR Also, before the big spike last November, rates were in the 20–30% range, but now they’re sitting around 50–60%. That suggests loans aren’t being returned to the lending pool as expected, or the total lending supply has shrunk—so even small borrow amounts are causing the APY to move pretty much linearly.
$DCR Right now, the amount of spot being lent out in the pool is down to about one-tenth of what it was during last year’s volatility, so it’s no longer a reliable source of spot for perpetual short sellers.