Digibyte (DGB) Technical Analysis: Upgraded Version of Digi-ID Launching this Week, Wills Bulls Run Soon?

Published on 24 October 2018 by Cryptovest Staff

Nothing in this article is to be construed as investment advice. Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses incurred as a result of this information.

This week Antum ID, a Belgium identification platform, announced it would launch its new ‘Open AntumID SOAP’ - an upgraded implementation of Digibyte’s Digi-ID authentication solution. This recent collaboration has been in the pipeline since the two companies formed a strategic partnership earlier this year, and announced they would deliver their first product by Q4.

The new Open AntumID will make it easier and faster for any website to support Digi-ID, and will be compatible with any programming language. Not only will this radically streamline the process of integration but it also hopes to increase Digi-ID’s overall mainstream adoption.

For now we are still waiting to see investors respond to this latest development, as DGB finds itself searching for support after a recent bearish episode. Will bulls arrive in time to catapult Digibyte skyward, or will this latest update slip by unnoticed? Only time will tell but it’s definitely one to watch.

On the 1D DGB/BTC chart we can see that the asset has been generally tracking inside a bullish pennant pattern throughout this year, with gradually decreasing highs and increasing lower lows. During mid-August however, DGB lifted off the lower support and started travelling sideways along a strong support at the 325 Sats mark (upper blue line) as selling pressure eased off. In the last few months bullish traders have struggled to launch off this support and the price action has been pinned down by a strong psychological resistance at 400 Sats.

In the last hour, a number of promising indicators have started to point towards a potential bullish reversal as buying momentum starts to pick up:

Over 1hr candles: The 12MA on the MACD indicator has just bullishly converged over the 26MA and is rising sharply back up toward the signal line.
RSI: The RSI has also just peaked sharply back into the middle of the index channel.
Ichimoku Cloud: Candles are starting to climb into the resisting Ichimoku cloud. If DGB can pass through this then it will be a good bullish reversal signal.

Digibyte (DGB) Technical Analysis: Upgraded Version of Digi-ID Launching this Week, Wills Bulls Run Soon?

Nothing in this article is to be construed as investment advice. Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses incurred as a result of this information.

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