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DigiByte (DGB) Price Analysis – DigiByte Feeling Some Love

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DigiByte
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While DigiByte (DGB), as well as the entire cryptocurrency universe, has felt the wrath of Mother Market in the prolonged and slow bleed bear market that has been ongoing for six months now, DGB appears to have potentially found its footing, at least in the short-term and in the process, is feeling some much welcomed love in the form of price appreciation.

Although it’s premature to declare that either DGB or the vast landscape of cryptocurrencies are completely out of the woods just yet, nevertheless, the recent day’s action in DGB may be foreshadowing what’s to come for the entire space in the weeks ahead with DigiByte setting the tone.

That being said, let’s take a glance at the technical posture of DGB to perhaps garner some clues/evidence as to what may be in the offing in the not too distant future via the Charts below:

When observing the daily chart of DGB above, we can see that DigiByte recently tagged an important figure at the .017 level that acted as a ‘Floor’ back in April. Although DGB continues to trade below its 20; 50 and 200-day moving averages, depicting a poor technical posture, DGB has enjoyed a nice bounce off of that .017 level and now finds itself pressing its 20 DMA (yellow line).

Thus, from a short-term perspective, while DGB requires additional work, it has recaptured the .023 level, which acted as potential short-term support (now turned resistance) on the way down, which is a positive development.

In addition, if DGB can hodl the .023 figure in the days ahead and or better yet, put in some side-ways grind and consolidate the recent move into higher ground via forming a potential right shoulder of an inverted Head-and-Shoulders (H&S) formation, we may have the making’s of something to look forward to in the weeks ahead, should such development indeed materialize.

When zooming-out on the time-frame to the weekly action below, we can observe that DGB moved right into the low zone created in Spring of this year and thus far, has since put in a nice reversal candle.

When we move out to the Monthly duration below, we can witness that DGB appears to have found its footing at prior recent support as well as buying interest evidenced via the recent push into higher ground off of the Spring-time lows (.015-.017 zone).

Moving forward, both investors/traders may want to utilize the following levels for further clues/evidence with respect to direction in the days/weeks ahead.

If DGB can begin to put in some sideways chop and consolidate the recent thrust (build cause/energy), such action would certainly be a positive and in the process, potentially build-out a right shoulder of a possible inverted H&S formation.

That said, if at any time in the days ahead, DGB can move top-side of the .0264 level and perhaps more importantly, the .03 figure, such action, should it materialize, would likely trigger a run to the .04 area, which represents a 60% move from current levels.

With respect to potential short-term support, both investors and particularly Traders may want to utilize the .019 level as your line in the sand, with the .015-.017 zone providing longer-term support.

Nonetheless, we may just be witnessing the very beginnings of a bottom for DGB in this long drawn bear and the forthcoming action in the days/weeks ahead should prove interesting.

Happy Trading!!

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Charts courtesy of tradingview.com

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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