Darkcoin Price Technical Analysis for 19/2/2015 - Resisting Advance
Darkcoin price increased yesterday after testing the 50% Fibonacci retracement level at 0.010844 BTC which continued to prove to be a strong support level throughout the past few days. By studying the 1 hour Cryptsy (DRK/BTC) chart from bitcoinwisdom.com and plotting the 10 day EMA (green curve) and the 20 day EMA (orange curve) (look at the below chart), we can conclude the following: DRK price increased to around 0.01207 yesterday and it almost touched the 62% Fibonacci retracement level at 0.012102 BTC which resisted further advance. The "gravestone" doji" (look at the candlestick....
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Darkcoin price dropped yesterday to record a low of 0.01 BTC before rising up again to record a high of 0.01099 BTC earlier today. It seems that an increase in price is resisted by the 50% Fibonacci resistance fan level that we plotted during earlier analysis. 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: Although the price has been above the 10 hour and 20 hour EMA during most of today's trading....
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....
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....