Viktor Karapetjanc
Crypto Post
On the 6th of November, DigiByte did hit the low at $0.022, where it rejected the 88.6% Fibonacci retracement level. Since then price price went down again, producing spikes below the previous low. However no clear break and close below has been established by DGB.
The interesting fact is that DGB/USD is once again tested this level yesterday, and it has been rejected cleanly. Nevertheless, there is also a resistance established at $0.032, where the downtrend trendline has been rejected.
If the support will hold and price will break and close above the $0.038, the change in trend could take place, where DigiGyte could produce a new all-time high. The very strong resistance is seen at $0.185 area, confirmed by the two Fibonacci retracement levels.
On the downside, it seem that break and close below $0.016 could invalidate the potential reversal and the downside pressure would become much more obvious.
All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CryptoPost constitutes an investment recommendation, nor should any data or Content published by CryptoPost be relied upon for any investment activities. CryptoPost strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
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