DGB Technical Analysis: Price Has Broken Out of the 3rd Resistance Level of $0.00000214

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The 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).

It has been a longstanding public blockchain and cryptocurrency. It uses five different algorithms to improve security, and originally aimed to improve the Bitcoin blockchain’s security, capacity, and transaction speed. The coin consists of three layers: a smart contract “App Store,” a public ledger, and the core protocol featuring nodes communicating to relay transactions. The DGB technical analysis is as follows:

Past Performance

On May 19, 2021, DGB started trading at $0.00000240 and closed at $0.00000215. The same day, during the latter hours of trading, it fell to $0.00000154. In the past week, the DGB price has decreased by roughly 36%. During the last 24 hours, DGB has traded between $0.00000209-$$0.00000212.

Price MovementDGB was trading at $0.00000230 on May 18, 2021. This was one of the most recent highs after which the price has been falling through May 20, 2021, to find support at $0.00000191 on May 20, 2021. It touched another high of $0.00000245 on May 21, 2021.DGB Technical AnalysisThe MACD and signal lines are neutral. Moreover, a positive crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum seems positive. We can expect the price to move slightly positive in a loose trajectory.Currently, the RSI indicator is at 57%. It faced rejection at 63% and rallied to the current level. Thus, selling pressures are high. Thus, the RSI indicator is giving further credence to flat signals given by the MACD oscillator.Currently, the price is above the Fibonacci pivot point of $0.00000212. The price has broken out of the third resistance level of $0.00000214. The price may breakout of the subsequent resistance levels of $0.00000250 levels in the coming few days.Thus, as of now, the neutral to positive trend seems strong, and the price rise is likely to continue the same as well.

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