Price Analysis

DigiByte (DGB)—One and Only Amongst the Top 50 Coins to Trade in Green, While Market Experienced an Unprecedented Dip

We cannot ignore the height that DigiByte is enticing amidst the most preferred altcoins of the market. It was just yesterday when Coinbase mentioned its goal to extend its support for all the digital assets, given if they meet their technical standards along with applicable laws. To stimulate customers with 90% of the total market cap of all digital assets in the global market, the platform is reviewing a cluster of additional assets (18 new digital assets), which includes DigiByte.

Although, there is no guarantee that all the given assets under review will be listed on Coinbase exchange as it requires significant technical and compliance review. However, non-listing of any digital asset does not disbar any asset from other probable and prospective listing.

Rudy Bouwman, Secretary, Vice Chairman, and Co-founder of DigiByte later commented that any exchange is free to list DGB because, ultimately, what the discretion of majority matters. I think this is quite diplomatic for a coin like DGB that has no central company and CEO in charge to control, which makes the coin completely decentralized in true sense.

Therefore, listing DigiByte on any platform will be autonomous and not directed by anyone, which, therefore, rationalizes the community’s opinions and helps crypto to be non-judgmental.

DigiByte seems like it is hitting all the chords as it was just today when the entire market was trading in red, the coin was holding a progression over 10% over the past 2 hours. DGB was the only crypto in the top 50 that is trading green when even the traditional assets, along with major cryptos, are facing the second wave of a massive sell-off.

DigiByte Price Analysis

DigiByte, on the hourly chart, is trading at $0.02019 and has marked an amazing rebound of over 38% in 2 days from the bottom of $0.0156 to $0.0216. It was just in the opening hour today when DGB reclaimed above $0.020 to retest the 30-day resistance. Additionally, important to note that DigiByte has been the only coin amongst the top 50 by market capitalization and has marked an intraday bounce of over 10%.

DigiByte News
DGB/USD Chart By TradingView

The 20-day Bollinger Bands are seen widening, which means the coin is likely to experience volatility; however, as per the current momentum, DigiByte is likely to hit the price zone around the upper Bollinger Band. The technicals are appearing bullish than ever as due to the recent rage exhibited by the digital crypto over the past two days. Similarly, the other technical, i.e., the Relative Strength Index (RSI), is at 53.85, which has just shifted to a range below the overbought region.

DGB News

Taking an overview of the YTD price movement of DGB against the US Dollar, we see that the price trend of the coin has a steep bullish rise above 61.80% Fib after a dull trade for the past 30 days. The current trading price, at the press time, is retaining support from 50-day MA and 200-day MA and 200-day EMA on a 24-hourly chart. According to the YTD chart, the immediate and crucial support line for DigiByte lies at $0.013, while the major support to watch out for lies $0.0100.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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