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DigiByte (DGB) Technical Analysis – DigiByte Approaching Important Technical Level

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DigiByte
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There’s no denying that in 2017, DigiByte (DGB) was one of the top performing coins throughout the entire cryptocurrency space as DGB produced stunning gains for early investors/traders who possessed the foresight to have engaged in the name.

While DGB spent the first five months of 2017 languishing in triple-digit territory, not only did DigiByte explode on one occasion racking-up enormous returns for investors/traders, it accomplished such feat on two separate occasions with the coin printing all-time highs of $.152 on 1-6-18. Absolutely remarkable and in the process, perhaps providing meaningful financial change to the lives of those fortunate enough to have participated.

Much like the entire first quarter of 2018 where the gains of 2017 fell on challenging times, DGB was no exception nor immune as DigiByte experienced severe price erosion. That said, it appears that the worst may be over and we feel that it’s time to take another look at one of yesteryear’s darlings.

As we can observe from the daily chart below, it appears that DGB has found its footing once again after recently bottoming-out in the $.015-$.0175 zone and now finds itself slowly repairing the damage done. In addition, we can also witness that DGB has recaptured all of its important moving averages as DigiByte presently trades above its 20/50 and 200 -Day moving averages with the 20-DMA moving up through its 200-DMA suggesting a favorable technical posture.

While DGB finds itself in a far better technical position than that of just several weeks ago, a bit more work is required, yet, it also finds itself knocking on the door of a very important technical level that both investors/traders may want to pay close attention to in the ensuing days/weeks ahead.

Thus, moving forward, if at any time DGB is capable of clearing the $.05 level and can ‘stick’, such development, should it materialize, would more than likely provide the catalyst for higher ground with an initial price objective in the $.07-$.075 zone and perhaps a sprint into the $.08 handle, while the $.032-$.033 zone acting as potential short-term support.

Nonetheless, DGB is approaching an important technical level that warrants the attention of both investors/traders alike and you may want to put this front-and-center on your radars.

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 Mike Kniec via Flickr

Chart courtesy of tradingview.com

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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