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DigiByte (DGB) experienced a 13% surge in the last 24 hours, reaching $0.01053 at 12:52 a.m. EST. This rally was accompanied by a 164% spike in trading volume, reaching $28.6 million.
DGB: Key Breakout Point In Sight As 50-Day SMA Moves Toward 200-Day SMA
DigiByte has been encountering resistance at the upper region of its descending price channel, keeping the trend pattern in check. A critical breakout point will be realized if the price manages to pierce through this resistance point, according to GeckoTerminal data.
If the price manages to close above the $0.0105 resistance point, it could indicate potential shifts in the trend pattern. A non-broken upper trend line usually keeps the price consolidating or pushes it down toward the lower border of this trend channel.
Technical indicators are also showing strength with the 50-day Simple Moving Average approaching the 200-day Simple Moving Average at the $0.00965 level, which could indicate a potential golden cross formation, a bullish indicator.
Currently, DigiByte is trading above both its two Simple Moving Averages (SMAs), indicating continuation of upward direction. The Relative Strength Index (RSI) stands at 61.48, suggesting that DGB tokens are not yet overbought.
DGB Price Prediction: Key Support Levels To Watch
As the market value of DigiByte strives to break above its crucial $0.
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