DigiByte (DGB) displayed great resilience amid the recent bearish attack on the cryptocurrency market that substantially damaged most markets and spurred the talks about the end of the altseason that commenced with the rise of the DeFi sector.
The coin that fuels the three-layer blockchain system for smart contracts and decentralized applications has had a splendid year as it gained 252% against USD, 239% in the Bitcoin market, and 121% in the pair with Ethereum. Last month has also been very productive for DGB since buyers managed to hold the uptrend structure together and keep the price flow above the 200-period EMA despite the large dip taken to $0.02 in the first week of September, where the price had consolidated for a few days before initiating an explosive recovery, gaining 54% against USD in four days.
At the moment, DigiByte is priced at $0.027 on the back of the 7% drop in the last 24 hours, during which the price tested the support at $0.024 that coincides with the 50-period EMA. Despite making a swift recovery, DigiByte still hasn't confirmed the intention to maintain the uptrend, although it is arguably the most promising coin in that regard.
The confirmation, of course, will come in the form of a new higher high above $0.037 that would be hard to achieve, considering the fact that the fall has become a season of depression for crypto in the past couple of years.
1-day DGB/USDT chart
The daily chart reveals how obedient DigiByte is to Fibonacci extensions, having found support at the 0.5 level and encountered rejection at 0.786. The obvious assumption here is that in case DigiByte breaks to the upside upon finalizing the ongoing retracement, it would conquer the prior higher high. We believe that DGB will have another bullish impulse during the coming week based on the showing of MACD, which confirms the strength of bullish momentum.
However, there is an increased possibility of the main signal line getting rejected at the zero line in present circumstances, leading to the bearish crossover. Therefore, please exercise extreme caution when entering a trade at this junction, or withhold from entering this market altogether before it becomes clearer how the price is going to interact with the 0.786 Fibonacci level because the size of the bearish spinning top candle tells us about significant indecision in this market at the moment.
Besides that, DigiByte has to stay above the 50 EMA to improve the confidence of retail traders in this altcoin and its commitment to the bullish agenda. There are three crucial price levels you need to watch in order to develop a proper trading strategy for the coming month.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||64%||72||$61 042.69||0.62%||0.36%||$1 150 794 336 311|
|2||ETH||Ethereum predictions||71.6%||55||$4 117.18||3.66%||7.58%||$486 030 676 596|
|3||BNB||Binance Coin predictions||73.2%||57||$483.09||1.03%||3.50%||$80 579 954 221|
|4||ADA||Cardano predictions||91.2%||14||$2.16||0.08%||-1.18%||$71 002 197 011|
|5||USDT||Tether predictions||95.2%||1||$1.000381||0.04%||0.03%||$69 600 606 049|
|6||SOL||Solana predictions||70.4%||52||$196.57||-0.49%||24.39%||$59 131 401 979|
|7||XRP||XRP predictions||76%||49||$1.088980||0%||-4.47%||$51 123 615 596|
|8||DOT||Polkadot predictions||60.4%||77||$43.78||0.35%||4.61%||$43 239 027 943|
|9||DOGE||Dogecoin predictions||72%||56||$0.248946||1.22%||4.69%||$32 814 608 422|
|10||USDC||USD Coin predictions||92.4%||1||$1.000560||0.03%||0.06%||$32 561 971 437|
|11||LUNA||Terra predictions||70.4%||62||$42.85||-2.61%||17.12%||$17 200 813 172|
|12||UNI||UniSwap predictions||77.2%||42||$26.67||4.27%||-0.87%||$16 312 283 765|
|13||AVAX||Avalanche predictions||68%||61||$65.25||0.30%||13.12%||$14 373 086 792|
|14||LINK||Chainlink predictions||77.6%||48||$30.88||7.84%||13.15%||$14 233 972 483|
|15||WBTC||Wrapped Bitcoin predictions||64.8%||71||$61 137.09||0.71%||0.47%||$13 559 759 340|
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2021 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.