DigiByte Price Prediction: Why Prices Are Falling Today

DigiByte price has lost over 30 per cent of its value since March 28, 2022. This was after the cryptocurrency had a 57 per cent on March 27. Today, the cryptocurrency is showing signs that the bullish trend that started weeks ago is poised to continue.

In the last 24 hours, Digibyte has had mixed fortunes in the markets. On one hand, the prices have risen by almost a percentage point, and it has come at the cost of a 45 per cent decline in volume traded. Looking at the daily chart below, it looks like the low volume of trading may be impacting today’s trading session, where the crypto has lost 1 per cent.

On the other hand, DigiByte Market capitalization has increased by over a percentage point during the 24 hours. This brings its total market capitalization to $445 million. The market rank has also improved, and DigiByte is now the 144th largest cryptocurrency in the market.

DigiByte Price Prediction

DigiByte prices have dropped but more than 30 per cent in the past few days. This is after hitting March highs of $0.043 on March 27. Today, the cryptocurrency is trading at $0.029. It is also showing signs of a bearish move, which will continue a long-term trend after yesterday’s pause that resulted in a 4.89 price gain.

Looking at the daily chart below, we can see that the prices had traded sideways for days before the current push to the downside. However, after breaking out of a long-term support level of $0.032, the prices have moved by over 10 per cent to the current DigiByte prices. The chart also shows that the prices have been trading along an ascending trendline for months.

Therefore, my DigiByte Price prediction is the prices will continue with the current downward trend until they hit the ascending trendline. After hitting the trend line, there is a high likelihood of the prices trading sideways for some time. I also expect the prices to fall below $0.024 in the coming days.

DigiByte Daily Chart