The DigiByte (DGB) price has increased by nearly 640 percent in the past six weeks. Is DigiByte in a bull trend now? According to its website, DigiByte is a Proof of Work (PoW) that can be mined with five algorithms called Sha256, Scrypt, Skein, Qubit, and Odocrypt. MultiAlgo mining supplies to decentralization, the security of the network and enables to use of hardwares such as an ASIC an FPGA, or a GPU.
DigiByte (DGB) price analysis- in a strong resistance zone!
DigiByte block rewards decrease by 1% every month rather than halving every 4 years. All 21 billion DigiByte will be mined by the year 2035. The EMAs are on the verge of a golden crossover, which could initiate a bull trend for the DGB for the first time.
DigiByte (DGB) Price Analysis- RSI in overbought regions!
The RSI is also in overbought regions in the weekly exchange rate but shows no bearish divergence. If the DGB breaks the current resistance, it will find its next significant resistance at 0.0212 and between 0.0298 – 0.33 $. Strong support is waiting for the DGB price between 0.0075 – 0.0085.
DigiByte (DGB) price analysis- trend change in sight?
A change of trend can only be expected when the DGB price breaks the last high at $0.0177. It looks bullish for the DGB price only if it breaks the golden ratio at $0.033.
DigiByte (DGB) price analysis- on the way to the golden ratio!
Against Bitcoin, the DGB price broke out of the descending triangular pattern bullishly, breaking the 0.382 Fib level as well as the 50-month EMA without problems. DGB finds the next significant resistance at 0.0000026 BTC because that’s where the golden ratio lies. If this is broken, one can say that it is a bullish trend change for DGB / BTC.
This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)
Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.