DigiByte / US Dollar Cryptocurrency Forecast

DigiByte / US Dollar cryptocurrency price down 1.98% on Monday
(Updated on May 06, 2024)

DGBUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. The DigiByte / US Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.0135. On a fall, the cryptocurrency will find some support from the short-term average at $0.0111. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -41.00%. Further fall is indicated until a new bottom pivot has been found. DigiByte / US Dollar gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for DigiByte / US Dollar cryptocurrency

On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.0103 and $0.0092. There is a natural risk involved when a cryptocurrency is testing a support level, since if this is broken, the cryptocurrency then may fall to the next support level. In this case, DigiByte / US Dollar finds support just below today's level at $0.0103. If this is broken, then the next support from accumulated volume will be at $0.0092 and $0.0086.

This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0004 between high and low, or 3.57%. For the last week, the cryptocurrency has had daily average volatility of 6.50%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (DGBUSD) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect DigiByte / US Dollar to open at $0.0114, and during the day (based on 14 day Average True Range), to move between $0.0104 and $0.0125, which gives a possible trading interval of +/-$0.0011 (+/-9.25%) up or down from last closing price. If DigiByte / US Dollar takes out the full calculated possible swing range there will be an estimated 18.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0117 (2.80%) than the support at $0.0103 (9.99%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is DigiByte / US Dollar cryptocurrency A Buy?

DigiByte / US Dollar holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.

Current score: -3.732 Sell Candidate Unchanged

Predicted Opening Price for DigiByte / US Dollar of Tuesday, May 7, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.