During the past few weeks, Digibyte has been one of the top gainers. After it found the support at 296 satoshis, which is 76.4% Fibonacci retracement level, price jumped up to 685 stoshis and has managed to outperform the Bitcoin by 130%.
Current small correction resulted in a drop towards 540 satoshis, where price found the support at 38.2% Fibs, also rejected cleanly so far. It DGB/BTC stays above that level, without daily close below, the uptrend continuation should take place.
Next upside target is seen at 786 satoshis, the level which previously acted as the resistance level on two occasions. Break above that resistance might suggest a potential trend reversal sending price to the new all-time high.
Nevertheless, if the current support at 540 sats will be broken a stronger corrective wave down should be expected, which should provide a good medium term buying opportunity.
Current small correction resulted in a drop towards 540 satoshis, where price found the support at 38.2% Fibs, also rejected cleanly so far. It DGB/BTC stays above that level, without daily close below, the uptrend continuation should take place.
Next upside target is seen at 786 satoshis, the level which previously acted as the resistance level on two occasions. Break above that resistance might suggest a potential trend reversal sending price to the new all-time high.
Nevertheless, if the current support at 540 sats will be broken a stronger corrective wave down should be expected, which should provide a good medium term buying opportunity.
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