DigiByte Price Prediction 2021 – Will DGB Hit $0.110 Soon?

DigiByte Price Prediction 2021 – Will DGB Hit $0.110 Soon?
  • Bullish DGB price prediction ranges from $0.049 to $0.106.
  • DGB price might also reach $0.110 soon.
  • DGB bearish market price prediction for 2021 is $0.020.

In DigiByte price prediction 2021, we use statistics, price patterns, RSI, and much other information about DGB to analyze the future movement of the cryptocurrency.

DigiByte (DGB) is an open-source blockchain and asset creation platform. DGB token is created in January 2014 as a fork of Bitcoin (BTC). DigiByte uses five different algorithms to improve security, and the main aim is to improve the Bitcoin blockchain’s security, capacity, and transaction speed. DGB is a proof-of-work (PoW) cryptocurrency, and miners earn tokens for validating blocks through block rewards

According to CoinGecko, the DGB price is trading at $0.04653 with a 24-hour trading volume of $23,462,652 at the time of writing. Moreover, DGB has increased by 8.59% in the last 24 hours.

However, DGB has a circulating supply of 14.54B DGB. Currently, DGB trades in cryptocurrency exchanges such as Binance, OKEx, Huobi Global, Upbit, and HitBTC. 

DigiByte (DGB) Price Prediction 2021

DigiByte (DGB) holds the 93rd position on CoinGecko right now. DGB price prediction 2021 is explained below with a daily time frame.

DGB/USDT Price Chart Daily Time Frame (Source: TradingView)

The above chart shows the Descending Triangle pattern. A descending triangle pattern is a bearish chart pattern, it is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. It is detectable by drawing trend lines for the highs and lows on a chart. A descending triangle part is the opposite of an ascending triangle pattern which is another trend line based chart pattern 

In the daily time frame chart, if the price of the DGB breaks the resistance level of $0.048, it will reach the target of $0.057 and $0.076. Or else, the price of DGB falls to the support level of $0.032. So, the trend of the DGB is based on the breakout.

DigiByte (DGB) Support and Resistance Level

The below chart shows the support and resistance level of DGB.

DGB/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frames, it is clear the following are the resistance and support levels of DGB.

  • Resistance Level 1 – $0.049
  • Resistance Level 2- $0.078
  • Resistance Level 3- $0.106
  • Support Level 1 – $0.029
  • Support Level 2 – $0.020

The charts show that DGB has performed a bullish trend over the past month. If this trend continues, DGB might run along with the bulls overtaking its resistance level at $0.106.

Accordingly, if the investors turn against the crypto, the price of the DGB might plummet to almost $0.020, a bearish signal.

DigiByte (DGB) Average Directional Index (ADX)

Now let’s see the average directional index (ADX) of DGB. Generally, the Average Direction Index (ADX) helps traders determine the strength of a trend, rather than its actual direction. It can use to determine whether the market is changing or a new trend is starting. It is associated with the Directional Movement Index (DMI) and includes the ADX line.

More so, the range of the oscillator is from 0 to 100. A high value indicates a strong trend, and a low value indicates a weak trend. It is often combined with directional indicators.

DGB/USDT ADX(Source: TradingView)

The above chart shows the ADX of DGB stays above the range of 20, so it indicates a weak trend.

Conclusion

The DGB is one of the cryptos that keeps its ground against the bearish market. Hence more, our long-term DGB price prediction for 2021 is bullish. It has many possibilities of overtaking its current all-time-high (ATH) of $0.1780 this year. More so, this will only happen if it breaks many past psychological resistances.

Henceforth, with the ongoing developments and upgrades within the DGB ecosystem, it could experience a great future ahead in 2021. It may reach $0.106 soon and it might even reach high heights, however reaching $0.110, if investors have planned that DGB is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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