Why We May be in a Bullish Trend

The past few hours have seen Digibyte price gaining by 7 per cent. The surge is the second consecutive day Digibyte is going up this week. Looking at data from the past 24 hours, the current surge in price becomes clear. For starters, Digibyte trading volume has gone up by over 70 per cent in the past 24 hours. This has brought its total trading volume to $19 million. 

Digibyte Price Prediction

Since July 14, Digibyte price has gone up by 46 per cent. Today, the long-term bullish trend looks to be continuing, with the current price showing a surge of 7 per cent. Digibyte, like all other altcoins, has seen gains in the past few trading sessions, partly due to the current push to the upside of the cryptocurrency industry. As the industry continues to recover, there is a high likelihood that we will continue to see the current growth of Digibyte crypto.

Therefore, my expectation for Digibyte in the next few trading sessions is for the prices to grow. There is a high likelihood that we will see the current bullish trend continuing and touch the upper trend line of its current ascending channel. There is also a high likelihood that we will see the prices hitting the $0.013 resistance level and possibly trading above it. 

In case it hits the $0.013 price level and breaks to the upside, the next price level for the prices will likely be the $0.016 resistance level, which has not been broken since May 9, 2022. Therefore, at that point, the prices will have risen by over 30 per cent from now, and based on what has happened since July 14, where prices have gone up by 46 per cent, the next big push to the $0.016 price level looks possible. 

However, should the prices trade below yesterday’s price low of $0.0110, then my bullish analysis will be invalidated. It will also mean that the bullish trend is over.

Digibyte Daily Chart