The DigiByte price decreased significantly on Feb. 15, but managed to recover, validating the $0.05 support area within the process.

Technical indicators, the wave count, and therefore the price action for DigiByte supports the continuation of the upward move toward $0.084.

DigiByte price continuation of the upward move toward $0.084

DigiByte Long-Term Levels

The weekly chart shows that DGB has been increasing rapidly since the start of  February. At the time of press, it had been trading at $0.069.

The closest resistance area is found at $0.088 (0.618 Fib retracement level measuring the all-time high price of $0.14). The all-time high price could act because of the next closest resistance area.

A closer look reveals that DGB has bounced at the $0.050 support area, which previously acted as resistance from April 2018. As long as DGB is trading above this level, it’s expected to continue increasing toward the following resistance area at $0.088. It could potentially move straight back up to the all-time high level at $0.14.

Technical indicators also are bullish, as evidenced by the bullish cross within the Stochastic oscillator and therefore the RSI cross above 70.

Future Movement

The daily chart further supports the continuation of the upward movement. Besides the massive bullish candlestick with a long lower wick, the RSI has also generated a hidden bullish divergence. this is often commonly a strong sign of a trend reversal.

Therefore, DGB is predicted to continue moving higher toward the previously outlined resistance areas.

Wave Count

The wave count suggests that DGB is in an extended wave three of a bullish impulse that began in March 2020. Wave three has extended and therefore the sub-wave count is shown in orange.

The most likely target for the top of the upward move is found at $0.085. This target was found using a Fib projection of waves 1-3. This level also coincides with the long-term resistance area at $0.088.

The next possibly area for a top is found between $0.106-$0.109.

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