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