Darkcoin Price Technical Analysis for 12/03/15: Downside Momentum Intensifying
The Darkcoin price dropped by 5% against BTC during the March 11th trading session, while intensifying the downside momentum further after the recent crash. Apart from a strong Bitcoin/USD trade sentiment, there can be no other speculation one could relate to the cause of Darkcoin crash. The cryptocurrency is indeed optimistic based on fundamentals. It is currently going through a rebranding exercise, while various other development projects are escalating smoothly. Therefore, the sudden downtrend seems to be purely technical, probably due to the migration of traders towards a more....
Related News
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 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....
Darkcoin price has sold off in the past days but a bounce might be due, as it is testing a key support level. It is hovering around the 0.0100 and 0.1050 BTC levels for the past few hours and this area has held as a floor for darkcoin price declines last month. Trading activity has been subdued in the past days, with some traders booking profits at the support area. Increased upside momentum could draw more demand for darkcoin if the support at 0.01 mark holds. However, the MA behavior on the 4-hour chart on bitcoinwisdom.com suggests that a downside break is possible, depending on how....
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....