DigiByte has been losing value against USD since June. It suffered heavy losses while moving from all-time high at $0.066, all the way down to 0.01 area. The total decline was a huge 90% but the support was found and now DigiByte does look as a very attractive investment.
The 327.2% Fibonacci support was rejected at $0.007and price moved higher breaking above the descending channel. Today it also broke above the 200 Moving Average suggesting the beginning of an uptrend.
The nearest upside target is at 227.2% Fibs applied to the corrective wave after the channel breakout, although DGB/USD holds a lot of potential and it is very likely price will go much higher.
The 327.2% Fibonacci support was rejected at $0.007and price moved higher breaking above the descending channel. Today it also broke above the 200 Moving Average suggesting the beginning of an uptrend.
The nearest upside target is at 227.2% Fibs applied to the corrective wave after the channel breakout, although DGB/USD holds a lot of potential and it is very likely price will go much higher.
Trade closed: target reached
Comment:
Here is idea on DigiByte / Bitcoin
Trade active
Trade closed: target reached:
The first target reached and rejected, wait for a break above for trend continuation
Comment:
Nice move by digibyte, it broke the resistance, much more upside potential there
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