DGB/BTC strong bearish dominance, post last months price plunge

Digibyte (DGB) Price Analysis – April 23

A strong bearish dominance has been affecting DGB/BTC since last month after price plunges through the 100-day moving average. As it appeared, the market may experience more fall in future trading. Similarly, DGB/USD follows a side-ways trend as a surge in volatility may send price to the next level. 

DGB-USD Market

Key Levels:

Resistance levels: $0.016, $0.018,

Support levels: $0.01, $0.008

The appearance of DGB/USD market revealed low trading volatility. For about two weeks now, Digibyte has been ranging between $0.014 and $0.012 price levels. This suggests a possible change in trend. Alongside with the trend, the 100-day moving average (red line) appeared holding the bull down. 

If the bulls manage to move above the red line, the positive move would continue. The closest resistance level to watch out for lies at $0.016 and above. Otherwise, a bearish play may provide support at $0.01 level.

A look at the medium-term MACD reflected a slow rise which has almost crossed the zero level. Oscillating to the positive zone is likely to shoot price up; possibly, following a bullish scenario.

DGB-BTC Market

Since price action crossed down the 100-day moving average line (red) on March 20, DGB/BTC pair had been confirmed to be in a bearish condition. By indication of the red line, the selling momentum is getting stronger as price continues to fall.

Following the bearish sentiment, the 4-hours MACD is revealed at the negative zone; indicating heavy selling pressure. Breaching the zero level upward could trigger a positive move for Digibyte. The close-by resistance level is located at 260 SAT, testing the red line. Surpassing this resistance may position price for a bull-run.

For now, the bears are gaining control of the market as more drops are likely to be witnessed in the next few days of trading; a new low may be established soon.

Please note: Niffler.co is not a financial advisor and this article should not be treated as financial advice. However, you are welcome to apply this information on our simulated cryptocurrency exchange.