Darkcoin Price Technical Analysis for 4/3/2015 - Bulls Pending
Darkcoin price dropped yesterday to print a low of around 0.01180 BTC yesterday, yet it resumed rising again after touching the 62% Fibonacci retracement level we plotted during earlier analysis to rise again above the new uptrend lines we detected on Monday's analysis. DRK price reached a high of around 0.01335 BTC at the time of writing of this article. By studying the 1 hour Cryptsy (DRK/BTC) chart from bitcoinwisdom.com and plotting the 10 hour EMA (green curve) and the 20 hour EMA (orange curve) (look at the below chart), we can conclude the following: Darkcoin price dropped yesterday....
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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 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....
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 digs deeper into the red as the price slips from 0.0158BTC to 0.01473BTC in the past 24 hours. Previous lows were violated with the price plummeting to a new low of 0.0143BTC amid the selling pressure. Bulls are caving in to the pessimism and the cryptocurrency may see further downside in the absence of any positive trigger. Upon implementation of the technical analysis on the 240-minute DRK/BTC price chart, it can be concluded that the bearish momentum will only intensify from here on. However, the price decline may not be abrupt but could rather be steady. Chart Structure - Ever....