Darkcoin Price Technical Analysis for 23/2/2015 - Shadowing Bitcoin
Darkcoin price started to drop yesterday just after bitcoin price started declining, to record a low of 0.01 BTC at the time of writing of this article. By analyzing 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: Today's trading volume is relatively high as compared to the trading volume throughout the past few days. The big selling volume of the market pulled the price downwards below the 50% Fibonacci....
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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's latest price action has been nothing less than a disappointment. Earlier, when it regained control and broke above the crucial resistance levels, hopes were high that the bullish momentum won't wane abruptly but, Darkcoin dashed all those hopes. I mentioned in my earlier analysis that sustenance above the 20-4h simple moving average is the key to more gains. Evidently, the market has failed to respect that level and the price of each Darkcoin has now slipped to 0.01574BTC. The 240-minute DRK/BTC price chart connotes a bearish outlook for the cryptocurrency as it fails to hold....
Darkcoin price plunged yesterday to print a low of around 0.009762 BTC earlier today on Cryptsy. This bearish dive pulled darkcoin price well below the 50% Fibonacci retracement level at 0.010844 BTC, yet the following hours pushed the price upwards as now darkcoin is trading around 0.01066 BTC at the time of writing of this analysis. The fall in darkcoin price goes along the price drops of other altoins, such as dogecoin, in the face of the rising price of bitcoin. By studying the 1 hour Cryptsy (DRK/BTC) chart from bitcoinwisdom.com and plotting the 10 hour EMA (green curve) and the 20....
Darkcoin has failed to hold on to early gains and was last trading at 0.0109BTC. The depreciation in the value of Darkcoin can be attributed to the sharp rise in the price of the most loved cryptocurrency, Bitcoin. As Bitcoin continues to push upwards to cross $300, Darkcoin will feel the heat. Technical Check: Stay Cautious! A precise technical analysis on the daily DRK/BTC price chart, taken from www.bitcoinwisdom.com points to bearish connotations for the pair. Fibonacci Support - Darkcoin has deeply disappointed the investors ever since it peaked out at 0.016BTC in February. The pair....
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....