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DigiByte (DGB) Technical Analysis – DigiByte Approaching Important Technical Level
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
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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