Digibyte Price Analysis: Candle is Red But Trend Cycle Flips to Green
The Digibyte price is decreasing downwards, around 1.9%, during the intraday trading session.
The 24-hour trading volume is at $101 million.
DGB/BTC pair is also trading positive by -1.2% at 0.00000139 BTC.
Daily technical chart and the Digibyte price trend are showing a downward trend. Based on the pivot level, the initial support level is 0.048 USD. From another perspective, if it accelerates, the resistance level to watch is 0.095 USD. Although the chart created a bearish engulfing candlestick pattern during the day, the price is expected to be a downside, and the reliability is high.
Ichimoku Cloud is composed of lead-1 and lead-2, and the displacement value is 1. It operates as a pivot level and leading indicator of asset price changes. Investors can see that the price breaks through the Red Moku Cloud and now slips past the Green Moku Cloud, so the cost is above the Green Moku Cloud, ensuring the upward trend of DGB.
Trading volume (92.34 M) is lower than the 20-day moving average (133.46 M). In short, the low volume of transactions caused the price to slip through the resistance zone. Investors may also notice that the volume bars on the chart are inclining, which indicates that surprising volatility is expected in the next trading days.
ADVERTISEMENT
The Schaff Trend Cycle indicator (bullish) with a 60 represents a buy signal in the coin, projecting an uptrend. Additionally, Investors can see a green buy signal and an upward slope in the index.
Digibyte Price Momentum Gains 27.2% Within a Month
Today’s price of DigiByte is 0.071511 USD, with a 24-hour trading volume of 101,832,888 USD. The price of DGB has fallen -1.9% in the past 24 hours. It has 15 billion DGB coins in circulation and a total supply of 21 billion DGB coins. The STC indicator shows a buy sign, and the traders have led to low volume. Technically, the price slips from the resistance zones and continues in a downtrend. Accordingly, as with the overall market viewpoint, the trend remains bullish for upcoming trading sessions.
Resistance Level: $0.095
Support Level: $0.048
Algorand Price Analysis: ALGO Token Continuing With A Rounding Bottom Pattern
ALGO token shows a bullish crossover of the 50 and 100 EMA’s in the daily time frame
The ALGO/BTC pair was trading at 0.00002657 BTC with a loss of 2.24%
The 24 hr trading volume in ALGO is $684.4 Million
The ALGO Token displays an excellent long opportunity for Crypto Investors with the formation of a rounding bottom pattern in the daily time frame. The key resistance(neckline) for this pattern is at the $1.7 mark. The price is currently facing strong rejection from the $1.5 displayed by a bearish engulfing candle.
Concerning the EMAs, the ALGO token’s price is trading higher than the EMAs 20, 50, 100, and 200, indicating a bullish trend. In addition, the chart has also provided a bullish crossover of the 50 and 100 EMA r, attracting more buyers to the token market.
The RSI value (BULLISH) is at 57, indicating a bullish sentiment regarding the price movement.
ADVERTISEMENT
ALGO Token Chart In The 4hr Time Frame
After rejecting from $1.5 resistance, the ALGO coin price has shown a sudden drop in its value with increasing bearish volume. For the long traders of this coin, the $1.2 will be crucial for them, providing strong support to the coin price. If the price manages to break down from this level, the price could plunge to the $1.05 or $1 mark.
The Moving average convergence divergence(MACD) indicator (BULLISH) shows both the MACD line and signal lines moving higher above the neutral zone (0.00), indicating bullish sentiment. However, the indicator has provided a bearish crossover of these lines, projecting a sell signal for coin traders.
Conclusion: From the technical perspective, the overall sentiment of the ALGO coin is bullish. However, the coin has shown a sudden drop in its price, indicating intense selling pressure. The ALGO traders can wait for the price to close below the $1.2 support to confirm any further fall in price.
Support– $1.2
Resistance– $1.15
The traditional pivot levels