DigiByte Technical Analysis: DGB/USD up 20% today after holding crucial support level and listing on Binance
- DBG/USD managed to hold the support level at $0.016.
- The daily uptrend is still in play and bulls are looking to break $0.0247.
- DGB was listed on Binance on June 22
DigiByte sees meteoric gains today after a violent move up destroying several short-term resistance levels. DGB has been bullish pretty much since March but slowed down after peaking at $0.0299 on May 7. Bears confirmed a daily downtrend, but the buyers managed to turn it around and DGB is again inside a daily uptrend. After the recent listing on Binance, DGB has seen a significant increase in its trading volume which sparked a massive bull move.
DGB/USD daily chart
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Bulls pushed DGB above the daily 12-EMA at $0.019 and the 26-EMA at $0.0188. Surprisingly the RSI is only at 40 points. DGB pulled back a little from the high of $0.023 but recovered and it’s currently trading at $0.0229. This bull move was most likely sparked by the defense of the $0.016 support level established on June 10 plus the listing on Binance, the most popular exchange in the world.. This was the higher low of the daily uptrend, after successfully protecting it, buyers succeeded to push DGB back above both EMAs.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
