DGB (DigiByte) Coin Analysis 20/03/2021Fundamentals:
DigiByte (DGB) is an open source blockchain and asset creation platform. Development began in October 2013 and the genesis block of its DGB token was mined in January 2014 as a fork of Bitcoin (BTC).
A longstanding public blockchain and cryptocurrency, DigiByte uses five different algorithms to improve security, and originally aimed to improve on the Bitcoin blockchain’s security, capacity and transaction speed.
DigiByte consists of three layers: a smart contract “App Store,” a public ledger and the core protocol featuring nodes communicating to relay transactions.
DigiByte is a modification of Bitcoin which aims to diversify security, speed and capacity possibilities.
Its first incarnation was as an open source blockchain and associated cryptocurrency, DGB. The network has five separate algorithms which help to maintain security and help prevent ASIC miners from commandeering too much power.
Later, another offering, DigiAssets, appeared, with DGB as its native token. DigiAssets appeals to those developers looking to launch digital assets, decentralized applications (DApps) and encode the necessary corresponding smart contracts.
All governance structures for DigiByte are run on a voluntary basis, in line with the thesis that the network should be open source and publicly accessible. Transaction fees in DGB are paid to miners for validating the blockchain.
DigiByte was created by Jared Tate, also known as “DigiMan,” who oversaw its metamorphosis from development to its current setup before announcing that he was temporarily retiring from his position in May 2020.
Tate has since returned, and as of September 2020 once again appears closely involved with DigiByte’s growth.
Tate’s biography states that he was involved with Bitcoin from 2012 onwards, and authored the first book written by a blockchain founder, “Blockchain 2035: The Digital DNA of Internet 3.0.”
DigiByte’s operations depend not only on developers, but also the DigiByte Foundation, a volunteer organization tasked with overseeing preservation of the project. A third group of volunteers, the DigiByte Awareness Team, is responsible for marketing and promotional activities.
Technical Analysis:
Hidden Bullish Divergence with MACD Histogram which is the sign of trend continuation
3TP done By Fibonacci Projection
Digibyteusdt
DGBIt had a good support level in the range of 3 cents
It is currently resisting in the range of 6 to 7 cents, which corresponds to the level of 0.236 Fibonacci trend base (in weekly time)
Surely, after the completion of the Bitcoin pullback and the beginning of the upward trend of the market, this resistance will be broken with strength. (in short-term)
-The red Ichimoku cloud is broken and the green cloud is formed
-The first shopping area can be a good place to shop
-It has good goals for the short and medium term
DGB has not exploded yet. Buy DigiByte and wait for pump!🚀DGB has not exploded yet, if you are searching for coin which didn`t jump yet it may be good option for you. In USDT chart look very bullish but in BTC pair we are still at the bottom. We believe that DGB will give us huge profit during this bullrun. Buy and wait for pump!
🚀 This coin is on our golden long-term altcoins list. It may be very good project for long term investment.
❎ No TP for long-term investments. We can`t predict exact altcoins targets in long term, but thanks to our experience and glassnode we are able to predict exact bitcoin targets. Our long-term strategy is just to hold these altcoins until glassnode indicators will say us that we are close to end of bullrun. And then we will sell everything in 15% parts.
✅ Bullrun is easy. Just accumulate coins from our golden list (long) and play with our signals (short). Diversification is the key to success.
Sideway accumulation zoneSideway accumulation is being done;
MACD is going to neutral (confirming accumulation zone/ healthy correction);
Stoch RSI is ready to go;
RSI is holding 22 days above 50;
Digibyte is holding 22 days above EMA 50;
The chart remains bullish.
I'm seeing 2 scenarios:
1) Accumulation for 2~4 days + uptrend breakout or
2) Another bear trap touching EMA 50 and skyrocketing fast (14 Feb scenario).
Target: U$0,10
Sideway accumulation zoneSideway accumulation is being done;
MACD is going to neutral (confirming accumulation zone/ healthy correction);
Stoch RSI is ready to go;
RSI is holding 22 days above 50;
Digibyte is holding 22 days above EMA 50;
The chart remains bullish.
I'm seeing 2 scenarios:
1) Accumulation for 2~4 days + uptrend breakout or
2) Another bear trap touching EMA 50 and skyrocketing fast (14 Feb scenario).
Target: U$0,10
Healthy CorrectionIt's time to healthy correction (bullish continuation pattern).
BUY ZONE:
I expect a good support at 150 sats (0.382 fibo), before trend continue the long run (first entry).
But, we could see 140~150sats range (second entry).
Don't miss the Digibyte long run!
Digibyte PARABOLIC trend!The most wanted signal appeared: The Parabolic Line!!!
EMA 50 = Perfect buy zones.
MACD ready to pop.
Next Target: U$0,09
Digibyte is waiting a little to push up because Bitcoin is rising. When BTC stop a little, we will see Digibyte leg up.
I believe that DGB will hit the target in the next 7 days.
DigiByte - Hypothetical WedgesSo far only the falling wedges has came to fruition
The broadening wedge can be established from previous price action within the falling wedge
Alike with the Rising Wedge
We can use these wedges to establish a TP in the short term - medium term.
Looks very stable at this price level
Entry is appropriate for medium term
EMA 50 x EMA 200 is ready to cross!1) After 117 days with EMA 50 below EMA 200, #DGB is ready to cross;
2) EMA 50 above EMA 200 turn $DGB to bullish;
3) RSI holding strong on 50+ level;
4) Neutral MACD;
Big movement coming!
Put your seat belt on
Digibyte the final chart & trade setup.I still remember back in 2017 when I was screaming all over DOGE & DigiByte are the leaders of a new generation, and yes I remember when I was mining DOGE in 2013 with short money to pay electricity while 8 rigs were heating up in the cold winter.
I always look for historical stuff, and #DigiByte for sure is one of my favs , and since I've seen #DOGE doing his thing in the last few days, I came to the conclusion that #DigiByte is next.
I do have the same feelings for #SC, you can find the setups I've posted, but #DigiByte is way above it.
That's why here you have the easiest chart and trading setup for this year.
If you find this helpful make sure you don't miss it.
Feel free to comment & follow for more ideas!
140 days downtrend breakoutDigibyte broke 140 days downtrend and now is fighting to break the strongest resistance, U$0,032.
We need more volume to break it.
The second resistance (U$0,037) isn't too dificult to break.
Daily candle closing above to U$0,034 will put Digibyte to mega bullish phase (best moment to entry).
Ps: If bitcoin corrects strongly, the price of altcoins will fall.