DigiByte preparing to test its strongest resistance for the third time

DigiByte preparing to test its strongest resistance for the third time
Written by:
Ali Raza
7th July, 13:38
  • DigiByte (DGB) saw the excellent performance in Q2 2020.
  • The coin surged from $0.005 to $0.025 in less than a month.
  • For the past two months, DGB was stuck between two levels, but a new surge seems to be taking place.
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DigiByte (DGB) price performance does not resemble that of the rest of the crypto market on a YTD chart. While most projects are still struggling to reach the heights they held before the mid-March price crash, DGB reached the top of its game much later.

The coin still suffered some losses alongside the rest of the crypto market, although it also seems to be trying to make up for what was lost.

DigiByte in 2020

Digibyte started the year with a rather low price, compared to where it is now. It was not exactly at its bottom, but it was not that far away from it, either.

On January 1st, the coin’s value sat at only $0.005272. Like most other cryptos, it started growing as January and the first half of February have progressed. However, DGB’s gains were much, much lower, and the coin only reached $0.0079 by February 14th, which was when the bears replaced the bulls.

Over the next month, the DGB price kept dropping lower and lower, until it was right where it started, at $0.0052.

Then, the mid-March price crash knocked it down even further, causing it to drop to $0.0030.

DGB rise in Q2

This is where DGB seemed like it will follow other cryptos’ lead, and it started growing back to its original levels, even surpassing them a bit. By April 10th, it managed to climb all the way up to $0.0062, which placed it well on its way towards the old resistance at $0.008.

However, upon reaching $0.0062, the coin’s price was rejected, and it dropped back down to $0.0048. That’s where its price growth started.

Over the next 20 days, DigiByte skyrocketed, reaching and breaching one level after another. It broke the resistance at $0.008, as well as the one at $0.01. It even briefly exceeded $0.02, hitting its peak at $0.025, before its price retraced to $0.018.

Fortunately, the coin’s drop was stopped by a support at $0.016, and DGB kept going up and down between this level and a resistance at $0.024 ever since.

Right now, DGB seems to be on another surge, with its current price sitting at $0.0207, which is a 3.50% increase against the USD, and 2.81% increase against BTC.

Conclusion

DGB has been one of the best performers after the March crash, and as such, it was a great opportunity for anyone who bought the coin back when it was still only a fraction of a cent. It remains to be seen whether or not it will manage to break the new resistance, or if it will get rejected once again.

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