Hello Steemit Community!
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Today I'll be talking about DigiByte (DGB), conducting a basic technical analysis on price action.
What is DigiByte?
DigiByte is a cryptocurrency that focuses on security, transparency, and efficiency with the use of their blockchain technology. I learned that DigiByte was the first major cryptocurrency to implement Segregated Witness (SegWit) which is aimed to lower transaction fees and increase the maximum transaction capacity in the network (meaning faster transaction speeds). Some examples of platforms of DigiByte include DigiByteGaming, DigiByte Tip, DigiHash, and DiguSign.
The screenshot below taken from the DigiByte website shows you additional information on this currency. If you are interested, I would really take the time to explore the website of each and every cryptocurrency you are considering buying; I don't understand everything that is mentioned, but it's good to have a basic understanding of what the cryptocurrency specializes in.
Below is my technical analysis on the current price action for DigiByte (DGB) using the daily time frame using the TradingView website.
Since the recent run up in late May/early June, DGB has been on a downward trend for about a couple weeks with the market taking back about 60% of the profits made from the recent spike. However, support of 1030 (red line) was recently broken and is now the new resistance, and the new support (green line) is at 823 satoshi. The blue highlighted trading range (823 - 1000 satoshi) is where DGB will have to get through in order to head back up to an upward trend. As a long term swing trader, this is the ideal and conservative set up for me to buy a cryptocurrency. The price is close to a strong support (823 satoshi), RSI is at around 40 (close to "oversold"), and your potential for profit is pretty high considering the market has taken about 78% of profits from the early June spike.
Final Fantasy XIV Sightseeing Log!
Final Fantasy XIV is a MMORPG that has an interesting scavenger hunt feature called the Sightseeing Log. I thought it'd be interesting for me to search for these in-game views and share what I find. The world of FFXIV is so beautiful (not as beautiful as real life, obviously), but I'll share some real life locations too! So, per the game's sightseeing log, the location behind my character, Swiyat, is called "Barracuda Piers".
If you found this post interesting, please let me know what you think and/or any suggestions that you may have. I hope we all learn from each other in this Steemit community and always stay positive!