In this DigiByte technical analysis, we will examine the current price action, trading volume, key levels and indicators for DGB-BTC. DigiByte is a decentralized blockchain-based cryptocurrency that focuses on speed, security, and scalability. It utilizes a unique mining algorithm called “Scrypt” which allows for faster block times and greater security compared to other cryptocurrencies like Bitcoin. DigiByte also has a decentralized governance system that enables community members to propose and vote on proposals for the development of the currency.
DigiByte Price Overview:
As of October 02, 2023, DigiByte is trading at approximately 0.0 BTC. Let’s dive into the detailed price action for DGB-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.0 |
| High (H) | 0.0 |
| Low (L) | 0.0 |
| Close (C) | 0.0 |
| Volume (C) | 47,571,645.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0 BTC.
- High (H): DigiByte reached a daily high of around 0.0 BTC.
- Low (L): The daily low for DGB-BTC was approximately 0.0 BTC.
- Close (C): At the time of analysis, DigiByte is trading near its daily close of 0.0 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -4.35% |
| 3D Change (%) | -4.35% |
| 7D Change (%) | -8.33% |
| 30D Change (%) | -15.38% |
| 90D Change (%) | -18.52% |
| YTD Change (%) | -52.17% |
Over the past three days, DGBBTC has decreased by approximately -4.35%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -8.33%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with DGBBTC maintaining a downward trend of approximately -15.38%, despite intermittent fluctuations. Examining the last 90 days, DGBBTC has witnessed substantial drop of approximately -18.52%, reflecting strong long-term confidence. Year-to-date, DGBBTC has steadily declined by around -52.17%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
DigiByte Live Chart:
You can access a live price chart for DGB-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.47517.
- Momentum score is -0.15385.
DGB BTC Technical Analysis
DigiByte Trading Volume:
The trading volume for DigiByte (DGB) over the past 24 hours has been significant, with approximately 47,571,645.00 BTC traded against DGB. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): DGB is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): DigiByte is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for DGB-BTC is currently in the low zone, around 40.19041. This suggests that DigiByte is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
DigiByte (DGB-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
