Price Analysis

DigiByte Reclaims 2-Year High; Trades Above $0.030

eToro

DigiByte (DGB), at the time of penning down this analysis, was trading around $0.032, wherein the coin is now breaching an approximate 2-month high. With this, DigiByte’s 1-week social volume has spurred by 16.6%, according to LunarCRUSH Social Listening. With this, social media posts hit a total of 18,559 as the price spiked by over 20%.

The speed of transferring DGB coin is immensely high and, therefore, is proving all the worth of being one of the top 50 cryptos of the global market. DigiByte holds a market cap of approximately $400 million and has gained great height this altcoin season.

From trading around $0.00522 to reclaiming a 2-year high, DGB price has approximately gained over 500%. After trading sideways for the first four months of the ongoing year. DigiByte is now the most shilled altcoin.

DigiByte Price Analysis

DigiByte News
DGB/USD Chart By TradingView

DGB, on a 24-hour chart, is seen trading with utter momentum after the massive sell-off and testing supports as low as $0.00161, and within seven weeks thereafter, it grew over 1500% to hit the first high after slagging at $0.02672.

With yet another higher high, we see the reclaiming a 2-year high recently and is holding support from 50-day & 200-day MAs at $0.0229 & $0.0139. The price trend of DigiByte is already hitting the upper 20-day BB and, therefore, projects moderate volatility as the bands widen slowly.

DGB News

The MACD chart holds a complete bullish crossover on the 24-hourly chart as the intraday holds positive bias, and the MACD line is crossing above the signal line. In this regard, the MACD chart holds a bullish divergence, too, on the 4-hourly chart. With an intraday strong bullish scenario, the RSI in both the time frames is inclined towards the overbought region due to spurring demand.

Alike to DGB/USD movement on 24-hour chart, we can see reminiscent of intraday bullishness on a 4-hourly chart as well. DigiByte holds complete support from 9-day MA, 50-day MA, and 9-day EMA, 50-day EMA on a 4-hourly chart that shows immense support around $0.027 and $0.030 price area.

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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