DigiByte Price Prediction 2022 – Will DGB Hit $0.2 Soon?
- Bullish DGB price prediction is $0.028 to $0.18.
- DGB price might also reach $0.2 soon.
- DGB bearish market price prediction for 2022 is $0.017.
In DigiByte’s (DGB) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about DGB to analyze the future movement of the cryptocurrency.
DigiByte Current Market Status
According to CoinGecko, the price of DGB is $0.022 with a 24-hour trading volume of $15,112,048 at the time of writing. However, DGB has decreased nearly 0.4% in the last 24 hours.
Moreover, DGB has a circulating supply of 15,107,027,532 DGB. Currently, DGB trades in cryptocurrency exchanges such as Binance, OKX, DigiFinex, Bybit, and Mandala Exchange.
What is DigiByte (DGB)?
DigiByte (DGB) is an open-source blockchain and asset creation platform. DGB token was 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.
DigiByte (DGB) Price Prediction 2022
DigiByte holds the 192nd position on CoinGecko right now. DGB price prediction 2022 is explained below with a daily time frame.
The symmetric triangle chart pattern shows the period of consolidation that may force a price breakdown or breakout. More so, a breakdown from the lower trendline indicates the beginning of a new bearish trend. On other hand, a breakout from the upper trendline signal shows the beginning of a new bullish trend. Traders also use moving averages in conjunction with a symmetrical triangle chart pattern to trail their stop loss.
Currently, DGB is in the range of $0.022. If the pattern continues, the price of DGB might reach the resistance level of $0.028 and $0.034. If the trend reverses, then the price of DGB may fall to $0.017.
DigiByte (DGB) Support and Resistance Level
The below chart shows the support and resistance level of DGB.
From the above daily time frame, it is clear the following are the resistance and support levels of DGB.
- Resistance Level 1 – $0.048
- Resistance Level 2 – $0.074
- Resistance Level 3 – $0.108
- Resistance Level 4 – $0.182
- Support Level 1 – $0.03
- Support Level 2 – $0.017
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 $0.182.
Accordingly, if the investors turn against the crypto, the price of the DGB might plummet to almost $0.017, a bearish signal.
DigiByte Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of DGB is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of DGB lies below the cutoff line, indicating weaker participants in the current trend.
More so, the DGB’s Moving Average (MA) is shown in the chart above. Currently, DGB is in a bearish state. Notably, the DGB price lies below 50 MA (short-term), so it is DGBletely in a downward trend. Therefore, there is a possibility of a reversal trend of DGB at any time.
Meanwhile, the relative strength index (RSI) of the DGB is at level 44.48. This means that DGB is in a nearly oversold state. However, this means a major price reversal of DGB may occur in the upcoming days. So, traders need to trade carefully.
DigiByte Price Prediction 2022 — ADX, RVI
Let us now look at DigiByte’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of DigiByte. Currently, DGB lies in the range of 7.34, so it indicates a weak trend.
From the above chart, the Relative Volatility Index (RVI) of DGB. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of DGB lies below the 50 levels, indicating that the direction of volatility is low. In fact, DGB’s RSI is at 44.48 level thus confirming a potential sell signal.
Comparison of DGB with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and DigiByte.
From the above chart, we can identify the trend of the ETH, BTC, and DGB is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and DGB also increases or decreases respectively.
Conclusion
With continuous improvements in the DigiByte network, we can say that 2022 is a good year for DGB. For this reason, the bullish price prediction of DigiByte in 2022 is $0.18. On the other hand, the bearish DGB price prediction for 2022 is $0.017.
Furthermore, with the advancements and upgrades on the DGB ecosystem, the performance of DGB would help to reach above its current all-time high (ATH) $0.108 very soon. But, it might also reach $0.2 if the investors believe that DGB is a good investment in 2022.
FAQ
DigiByte is a highly scalable peer-to-peer digital currency that enables the leading transaction speeds in the industry at very low rates.
DGB has listed on many crypto exchanges which include Binance, OKX, DigiFinex, Bybit, and Mandala Exchange.
With the ongoing developments and upgrades within the DGB platform, it has a high possibility of reaching its ATH soon.
On May 01, 2021, DGB reached its new all-time high (ATH) of $0.178.
DigiByte (DGB) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of DGB in the past few months, DGB is considered a good investment in 2022.
DigiByte (DGB) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then DigiByte (DGB) will hit $0.2 soon.
DigiByte (DGB) price is expected to reach $0.35 by 2023.
DigiByte (DGB) price is expected to reach $0.5 by 2024.
DigiByte (DGB) price is expected to reach $1.2 by 2025.
DigiByte (DGB) price is expected to reach $2 by 2026.
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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