Darkcoin Price Technical Analysis for 22/2/2015 - Rock Solid Support
Darkcoin price dropped yesterday to test the 50% Fibonacci retracement fan level at 0.010844, as we predicted during Friday's analysis, yet this level continued to prove that it is supporting Darkcoin price well. Yesterday, DRK price recorded a low of 0.01075 BTC and a high of 0.01165 BTC. By studying the 1 hour Cryptsy (DRK/BTC) chart from bitcoinwisdom.com, plotting the 10 hour EMA (green curve) and the 20 hour EMA (orange curve) and calculating the MACD indicator (look at the below chart), we can conclude the following: Darkcoin price dropped yesterday to test the 0.010844 support....
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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....
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....
Sellers continue to run amok in Darkcoin as the price plunges to new lows. Thanks to the sell-off, each Darkcoin has gotten significantly cheaper and can be bought for 0.0172BTC. Investors may also consider adding to their long positions as the price nears a crucial support level. The 240-minute DRK/BTC price chart above, taken from bitcoinwisdom.com, has been analyzed using technical analysis to reveal some noteworthy points from a trading perspective. Chart Structure - The price trend has been disappointing, to say the least. Ever since Darkcoin hit a high of 0.02495BTC, price has been....
Selling in Darkcoin seems to have abated near the crucial support level of 0.01615, a possibility of which was discussed in yesterday's analysis titled Nearing Support. The value of each Darkcoin is however, relatively unchanged at 0.01730BTC. Technical analysis of the 240-minute DRK/BTC price chart reveals that a near-term bottom has been reached and prices may consolidate (if not rise) from here on. Chart Structure - I had discussed earlier that level of 0.01617BTC should act as a strong floor and that selling will cease near this level. As can be seen from the chart above, the price....
Starting from today, I will be doing a daily darkcoin (DRK) technical analysis, so it is better to set basic resistance and support levels that we can build upon throughout our analysis during the upcoming couple of weeks. By examining the 1 hour Cryptsy (DRK/BTC) charts from tradingview.com (look at the below chart), we can notice that darkcoin price increased today from around 0.01021 BTC to 0.01275 BTC, before falling again to 0.01166 BTC. Since then, the price was oscillating between 0.01275 and 0.01166, as it seems that the 0.013 level is resisting a further rise in DRK price. As....