Price Analysis

DigiByte Holds Complete Support; Faces Strong Resistance at $0.0250

DGB Projects No Unprecedented Volatility in the Upcoming Days

DigiByte has had an excellent listing in the previous month, wherein the extending presence of DGB coin will lead to greater adoption. DigiByte is now available for trading on Binance, Bololex, OceanEx, CoinDCX, DigiFinex Global, Bilaxy exchange, WazirX, LBank Exchange, Bitcoin.com while it awaits to be on Coinbase sooner than ever. Moreover, DigiByte has also collaborated with many renowned digital wallets to leave no stone unturned.

With this, DGB as an altcoin which otherwise was believed to be laterally trading, apart from the altcoin season is now the 3rd most purchased crypto after Bitcoin and XRP. The growth and adoption that DigiByte has lured is just commendable as a platform and its token.

Moreover, as the adoption and demand of the token are seen spurring, the most renowned exchange—Bittrex, along with major coin like BTC, ETH and XRP has added DGB to the list of cryptos that are now available for purchase using the Instant button on their mobile app. The increase in demand has led to exchanges extending their service providence in terms of DGB.

Alongside, we even have a recent news about DigiByte collaborating with ThreeFold which provides peer-to-peer internet for empowering equality, independence and sustainability. This partnership is going to seize the best P2P Decentralized Internet Capabilities.

With an increase in platform activities, the price and adoption have thereby accelerated as networkers trust the development and evolution of DigiByte. The token on the price front is luring amazing investor groups for a long-term connection and investment in DGB.

DigiByte Price Analysis

DigiByte News
DGB/USD Chart By TradingView

On the 12-hourly chart, DigiByte is seen trading with noticeable momentum perfectly since April 2020. The coin had hit a fresh YTD high at $0.0267 in the first week of May as it strengthened after the massive sell-off in March. At this high, the coin has even reclaimed the 52-week high price which stood around $0.026.

Right after the recent high in May, the DGB coin has tested support as low as $0.01297 in the same month when it attained a fresh height. Presently, the coin trades with a 66% hike after the 7-week support but is facing a strict resistance at $0.0250 since more than 2-months now after hitting the recent high at $0.0267.

At the current trading price, DigiByte is holding a steady support from 50 and 200-days moving averages. The 20-day Bollinger Bands are not holding any trading extremities and so we do not project unprecedented volatility but is holding a bullish divergence due to intraday escalations. The MACD realizes the intraday momentum and holds a bullish crossover, similarly, the RSI is lying at 56.27 and holds no trading extremities.

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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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