HomeUncategorizedDigiByte price analysis for 02/10: DGB/USDT can reach $0.0079 with ease

DigiByte price analysis for 02/10: DGB/USDT can reach $0.0079 with ease

A fair few crypto assets have come under bearish pressure. That is often the case when the value of Bitcoin is dropping for no apparent reason. The DigiByte price is still holding strong, as further gains may loom on the horizon. 

DigiByte Price Trend Remains Intact

With all of the crypto market momentum taking place, gains and losses can come in quick succession. Very few alternative markets can buck a Bitcoin dip these days. DigiByte appears to be one of them, as it notes fewer losses on the day that Bitcoin loses nearly 4%. A testament to the strength of this DigiByte price trend, to say the very least.

This uptrend has been going on for some time now.  Over the past 30 days, the DigiByte price increased by over 46%. That is in line with other altcoins on the market today. Most of these gains were realized in the past week, with a 29.3% increase. All signs are coming up bullish for DGB, yet caution remains advised at all times. 

The overall DGB trading volume remains on the low side of the spectrum. For a project with a $100 million+ market cap, under $1.5 million in volume is a bit bleak. This is not necessarily a bad thing either, as it shows few people are willing to part with their holdings these days. 

DGB/BTC Technical Indicators

Bollinger Bands: The daily DigiByte price chart shows how the Bollinger Bands are still wide open. There was an attempt to narrow a bit, but a big green candle thwarted that particular development. The current green candle is slightly smaller than the previous one, thus there may be a temporary break of the uptrend in the very near future.

Moving Averages: No real changes can be noted here. The MA20 remains well above the MA50.  Both have yet to cross the MA200, albeit that seems to be a matter of time.. As such, no permanent change in market conditions is expected, for now. 

RSI: Similar to most alternative crypto assets, DigiByte remains in “overbought” territory. There is a slightly downward slope in the RSI today, further indicating that some accumulation may take place in the coming hours. That is never a bad thing, as it will not break the overall uptrend. 

Resistance Levels: There isn’t much resistance to take into account for DGB right now. If the $0.00796234 level were to be broken, the path to $0.00898 seems to be wide open. All of this primarily hinges on what happens to Bitcoin in the coming days and weeks, however.

JP Buntinx
JP Buntinx
JP Buntinx is passionate about cryptocurrencies, fintech, blockchain, and finance. He currently resides in Belgium.


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