DigiByte Price Prediction: How Far Will DGB Go After Breakout?
- As per the DigiByte price prediction, the price of the DGB coin is trading at $0.00744 and the DGB coin price increased by 4.10% in the last 24 hours.
- DGB coin observed a popular bullish pattern that might give a more upward view soon.
- For the DGB price, the 52-week price bound range is $0.00003099 – $0.178084.
The DigiByte price prediction shows that the coin recently gave a breakout from the trendline and it is trying to sustain itself at the current level of $0.00744. This week the coin performed well as it was up by 6.60%. Also, the DGB price was down by 5.90% in the last six months which highlights its underperformance. Moreover, the Digibyte crypto coin price year-to-date return is negative with a decrease of 3.25%.
DGB Price Technical Analysis in 1-D TimeFrame
The DigiByte price prediction indicates the amount of DGB coin price traded in a day is $8.245K. As observed, the trading activity is poor for the DGB coin which seems like an indication of previous profit booking in a bull run. However, at the time of writing, the new volume is building up highlighting the bull’s interest.
The DGB price respected its significant trendline forming a falling wedge pattern, which highlights that the coin price might go upwards and the pattern did give a breakout. But as examined, the coin’s volume lacks bull’s interest and resistance is high as the price is below major EMA’s. If the DGB coin succeeds in accumulating more buyers, only then it might surge and lead the price above hurdles. The price is going toward the major resistance as it will move upward toward the next resistance soon.
The DGB price is trading below the 100 & 200-day EMA (exponential moving average), which is acting as a hurdle, and trading above the 20 & 50-day EMA which is acting as a support and pushing the DGB price trend upwards. There is a possibility that the worth of the DGB coin will increase even further.
The MACD indicator summarizes the upward momentum of the DGB price. Also, the MACD indicator is in the positive zone above the zero line. The MACD line at 0.00002668 and signal line at -0.00010417 suggest that the MACD is in positive territory and is giving bullish signals.
The current value of RSI is 58.13 points. The 14 SMA line is currently close to the median line at 49.85 points. As the price is going toward overbought territory, the market is witnessing bullish sentiment.
The DigiByte price prediction highlights the sentiments and perspectives of investors and traders regarding the coin price being bullish in the 1D timeframe. The DGB coin price reflects an optimistic view at the time of publishing. The technical parameters of the DGB price suggest the continuation of the uptrend over the daily time frame chart. Major legitimate indicators MACD, RSI, and EMA, flaunt positive signals about the DGB coin.
- The nearest support level is $0.00582382.
- The nearest resistance level is $0.00830834.
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.