DAI Price Prediction for 2021 – DAI/USD Sideways Channel Intact

Last Update: October 5th, 2021

Content

• DAI/USD Price Forecasts
• Forecast Summary
• DAI/USD Live Chart
• Price Prediction for the Next 5 Years
• DAI/USD Technical Analysis

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MARKETS TREND The market trend factors in multiple indicators, including Simple Moving Average, Exponential Moving Average, Pivot Point, Bollinger Bands, Relative Strength Index, and Stochastic.

BUY DAI

Dai (or DAI) Past Price Analysis:

During Dai's first year of existence, it was successfully kept close to one US dollar, even though the price of Ether – the only collateral available at the time, decreased by around 80% during the same period. In September 2018, Venture capital company Andreessen Horowitz invested $15 million in MakerDAO by purchasing 6% of all MKR tokens. In 2018, MakerDAO developed the Maker Foundation, run from Copenhagen, which aims to help bootstrap the ecosystem by, for instance, writing code needed for the platform to function and adapt.

In 2019, MakerDAO faced an internal conflict over whether it should integrate more with the traditional financial system. Christensen wanted greater regulatory compliance to allow for assets besides cryptocurrency to serve as collateral for Dai. This was seen as one of the key factors behind the departure of Maker DAO. Afterward, in March 2020,

Dai faced a deflationary deleveraging spiral that, at its peak, caused it to trade for up to USD 1.11 before returning to its intended $1.00 valuation. However, the reason could be attributed to the extraordinary market volatility amid the spread of the deadly COVID-19 virus.

DAI Introduction:

Dai (or DAI) is a stable cryptocurrency coin that seeks to maintain an exact ratio of one-to-one with the US dollar (buck) through an automated system of smart contracts on the Ethereum blockchain. DAI is the world’s first stable cryptocurrency coin that launched on Ethereum. MakerDAO controls and regulates it. It is worth mentioning that MakerDAO, a non-profit foundation, focuses on bringing stability to the cryptocurrency economy.

The first development of DAI was begun in 2015 by Rune Christensen. Before joining crypto, Christensen established a business that recruited Westerners to teach English in China. After discovering Bitcoin in 2011, he ultimately sold his business to invest in the asset. However, when Mt. Gox (bitcoin exchange company) collapsed in 2014, Christensen turned to the idea of stablecoins. This is how MakerDAO arrived.

In 2017 DAI coin was officially launched as a product of MakerDAO, with its smart contracts, on the Ethereum blockchain. It should be noted that no central organization controls DAI, unlike other asset-backed cryptocurrencies. Such is the case with Tether (USDT), which Tether Holdings runs. Instead, users submit ETH or ERC-20 tokens into a smart contract that uses these assets as collateral.

There is neither a financial entity behind DAI nor a central organization that controls its value. DAI is one of the best decentralized stablecoins and the best option for traders apart from USDT. The value of DAI is only determined by the market. As we all know, Ether backs DAI, but it does not mean that when ETH faces price drops, DAI loses its traction.

DAI is used as a system of lending and borrowing crypto assets without the need for a broker. Users who deposit Ethereum (or other cryptocurrencies) can borrow against the value of their deposits and get freshly created Dai coins. In simple words, depositing $150 worth of Ether allows one to borrow up to 100 Dai (roughly equivalent to $100). If the security price drops below this ratio, the loan can be automatically converted by smart contracts. Conversely, if its value rises, additional Dai can be borrowed.

Advantages of DAI Stablecoin:

1. No Account Minimum
2. Stable Value
3. Decentralized Freedom
4. Income Generation
5. Fast and Cheap
6. Always On
7. Highly secure

Recent Changes in the DAI/USD Price

DAI Live Chart

We will represent the comprehensive Dai price prediction and forecast that can provide a better insight into the current DAI market situation, Dai market capitalization, and future expectations concerning the price action. It will help to understand what’s going on in the Crypto Market right now. Dai is a non-mineable coin that is currently priced at $0.99840 and has a market capitalization of USD 745,650,699, which puts it in rank 33 in the global Cryptocurrency Rating. The currently available supply of Dai is 3,637,574,782 coins. It is vital to understand the projected changes in supply to calculate future market capitalization properly.

DAI PRICE PREDICTION FOR JUNE 2021:

The Dai price is projected to touch the $1.2795867 level by the start of June 2021. The projected maximum price is $1.5995907, while the minimum price is $1.0877217. The Dai price prediction for the end of the month is $1.2796725.

DAI PRICE PREDICTION FOR JULY 2021:

The Dai price is projected to touch the $1.2796725 level by the start of July 2021. The predicted maximum price is $1.5997385, minimum price $1.0878222. The Dai price prediction for the end of the month is $1.2797908.

DAI PRICE PREDICTION FOR AUGUST 2021:

The Dai price is projected to touch the $1.2797908 level by the start of August 2021. The predicted maximum price is $1.5999434, while the minimum price is $1.0879615. The Dai price forecast for the end of the month is $1.2799547.

DAI PRICE PREDICTION FOR SEPTEMBER 2021:

The Dai price is projected to touch the $1.2799547 level by the start of September 2021. The predicted maximum price is $1.6002082, while the minimum price is $1.0881416. The Dai price prediction for the end of the month is $1.2801666.

DAI PRICE PREDICTION FOR OCTOBER 2021:

The Dai price is projected to touch the $1.2801666 level by the start of October 2021. The predicted maximum price is $1.6005281, while the minimum price is $1.0883591. The Dai price forecast for the end of the month is $1.2804225.

DAI PRICE PREDICTION FOR NOVEMBER 2021:

The Dai price is projected to touch the $1.2804225 level by the start of November 2021. The predicted maximum price is $1.6009312, while the minimum price is $1.0886332. The Dai price prediction for the end of the month is $1.2807449.

DAI PRICE PREDICTION FOR 2025

The Dai price is expected to increase. At this time, the Dai price is $1.0000000, but by the end of 2022, the average Dai price is expected to be $1.2945248. Later in December 2023, Dai's price is projected to hit the $1.3204528 level by the end of December 2023. The predicted maximum price is $1.6505660, while the minimum price is $1.1223849. By the end of December 2024, it's expected to hit the $1.0046362 level. The predicted maximum price is $1.2557952, while the minimum price is $ 0.8539407.

The DAI/USD pair is trading at the $1.0095 level, maintaining a tight trading range of $1.00473 – $0.9973 level. It is forming Doji and Spinning top candles on the weekly timeframe, suggesting indecision among investors. It seems like the investors didn’t find any solid reason to trade DAI, and they are just scalping it.

DAI/USD – Weekly Time-frame – Sideways Channel in Play

On the higher side, the breakout of 1.0047 level can drive a buying trend in DAI until the next resistance area of 1.018424 level. At the same time, the breakout of the 0.9973 level can extend the selling trend until the 0.9852 mark. The leading indicators such as RSI and MACD are tossing above and below 50 and 0 levels, respectively. The 50 periods EMA is adding pressure at 1.0044 level, and once Dai crosses over this level, we may see a bullish trend.

DAI/USD – Daily Time-frame – Choppy Session Continues

DAI/USD is trading sideways at 1.0087 level on the daily timeframe, trading in between a narrow trading range of 1.0047 – 0.9973. The weekly and daily timeframes are almost identical, as DAI’s prices haven’t changed a lot lately. It’s been trading around $1.0010. The RSI and MACD indicators support a neutral trend as the MACD is holding above 0, and the RSI is 49. Technically, the breakout of the sideways channel at the 0.9973 level can extend the selling trend until the 0.9858 level. On the flip side, the breakout of 1.004 level can lead Dai towards 1.0189 level. Good luck!