DigixDAO $DGD possible bullish trend reversal

in cryptocurrency •  7 years ago 

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Since 17-03-2018 DGDBTC has been in almost constant decline, against what was a very strong second half of February where it rose from 0.022 to 0.058 (+164%).

However, there is evidence to suggest a trend reversal is in the offing. Firstly, the start of a bullish MACD divergence, as seen below.

However, as always with MACD divergences it is difficult to tell if the reversal is permanent or a short term trend switch. Despite this, the large volume spike around the local-low could be seen to indicate the local-low could be more of a long-term low, although the volume spike is not as large as the ones seen on 15th March and 28th February.

Although now could be a decent entry point, it could be worth waiting to see similar volume spikes as seen between the 18th and 22nd of February, as below.

So, overall, although DGD is due a trend reversal, the timing may be more difficult to predict. Therefore, i would place $DGD in the "to-keep-an-eye-on" pile.

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