Darkcoin Price Technical Analysis for 17/03/2015 - Short-Term Rally
Darkcoin trading has gained upside momentum at the start of this week, as prices bounced off a key support zone once more. Support at 0.0100 held in its latest test, sending darkcoin prices up to the nearby resistance levels. Looking at the 1-hour chart of DRK/BTC from Cryptsy reveals that the short-term rally has gained a bit more momentum. Price has reached highs around the 0.0117 mark lately while the short-term moving average has crossed above the longer-term moving average. The moving averages are treading apart, indicating that the rally is gaining momentum. The longer-term moving....
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Darkcoin has cracked below the crucial support level of 0.01617BTC and it provides a perfect selling opportunity to short-term traders. I had earlier expected the market to respect the support level and consolidate for some time, but it was also mentioned that a breach of this support should be seen as a red flag and all long positions should be liquidated then. Each Darkcoin is currently worth 0.01526BTC. Technical analysis implemented on the 240-minute Darkcoin/BTC price chart above reveals that a major support has been breached decisively and that more losses will follow in the coming....
Darkcoin remains subdued as every rise is quickly undone by selling pressure. The cryptocurrency has failed at shrugging off the pessimism and continues to trade in a lower top fashion. Even with prices consolidating, it seems hard to advise that bears won't make a comeback and that buying should be initiated. Darkcoin users will now have to shell out 0.01588BTC. In the short term, Darkcoin may consolidate or fall to lower levels, but there doesn't seem to be a proper case to support any bullish argument. The 240-minute DRK/BTC price chart has been taken to implement the technical....
The latest price action in Darkcoin has clearly taken me by surprise, and bears will be seen scampering for covers if they do not reduce or exit their short positions immediately. Just when it looked like the bulls were losing their grip and that bearish momentum will intensify in the coming sessions, the bulls made an exceptional comeback paring a major percentage of its losses since March 30. Each Darkcoin is currently worth 0.01657BTC. Darkcoin price chart, Darkcoin analysis. The price action and the technical indicators overlaid on the 240-minute DRK/BTC price chart present a strong....
Darkcoin price finally made an upside break from its descending triangle consolidation pattern, indicating a pickup in bullish momentum. This suggests that the cryptocurrency price could continue gaining against bitcoin in the long run. On the daily chart of DRK/BTC from Cryptsy, darkcoin price surged past the triangle resistance around 0.0120 and zoomed past the previous highs around 0.0161. Volume picked up as cryptocurrency traders jumped in the latest rally to take advantage of the bullish continuation signal. Price is retreating close to the previous highs, which might act as support....
Darkcoin price has recently climbed against bitcoin, but it could find short-term resistance. Drawing the Fibonacci tool on the latest swing high and low on the 4-hour or 1-hour time frames from Cryptsy suggests an ongoing correction for the cryptocurrency. Darkcoin price is currently hovering around the 50% Fibonacci retracment level, which might keep further gains in check. An extension of the rally could last until the area of interest closer to the 61.8% Fibonacci retracement level or the 78.6% Fibonacci retracement level. The 50% Fibonacci retracement level is around 0.0115 and the....