DigiByte Price Prediction: Why is DGB Price Rising?

Summary:

DigiByte Prices set a new 2022 yearly price high of $0.043 on March 27th. This is before an almost 20 per cent drop from these highs.

DigiByte Prices set a new 2022 yearly price high of $0.043 on March 27. This is before an almost 20 per cent drop from these highs. However, the prices are likely setting up for another major bullish move that will see the prices hit this level again.

Investing in DigiByte

The latest analysis by InvestorsObservers shows that investing in DigiByte poses low risks. The platform measures risky assets based on how easy they are to manipulate. A low score shows that the analysis believes that DigiByte is not being manipulated by traders or sharks who pump cryptocurrency and dump them when the prices rise. This analysis is insightful, especially for new traders looking to invest in new digital assets.

DigiByte Price Prediction

DigiByte prices have long been trading along an ascending trend line. Today, the prices are on a long-term aggressive bullish move that started on March 18, 2022. In the last four days, the prices have also shown aggressive volatility that started on March 27, when prices rose by more than 75 per cent. The DigiByte prices would drop and close the day with a 57 per cent gain. The next day also saw the prices drop by 12 per cent, followed by another losing day for the cryptocurrency.

However, today’s trading session shows that DigiByte may be starting an upward trend again. This is after gaining more than five per cent and bringing the price to $0.034. Looking at the daily chart below, we can see the prices failing twice to drop below the $0.032 support level. Therefore, I expect the support level to hold. I also expect DigiByte’s current bullish trend to continue. This is why my DigiByte price prediction is the currency trading above $0.043 in the coming days.

There is also a likelihood that the prices will continue once DigiByte price hit the $0.043 resistance level. If that is the case, it is possible that the prices could rise as high as $0.068, which is a long-term resistance level.