Following the move, the weekly DGB/USDT chart shows the coin is on the verge of breaching the upper trendline of a falling wedge.
Get These Top Crypto Casino Offers Now!
Sponsored
Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
The annual DigiByte Community Withdrawal Day, scheduled for Nov. 11, encourages holders to withdraw their DGB from centralized exchanges into self-custodial wallets.
Furthermore, if a significant number of holders participate, the exchange supply could decline, creating a short-term supply squeeze.
This reduction in available coins on exchanges might exert upward pressure on DGB’s price, especially if combined with rising on-chain activity.
Looking at on-chain data, Santiment reveals that DigiByte’s coin trading volume has surged to its highest level since last December.
Combined with the recent price increase, this surge implies growing market participation.
Rising volume alongside an upward price move typically signals strong conviction behind the rally.
If the volume continues to rise, it could reinforce DGB’s bullish momentum.
Therefore, the DGB’s price has a higher chance of a breakout above the $0.010 resistance, possibly paving the way for higher targets in the days leading up to Withdrawal Day.
DGB Price Prediction: Bullish
On examining the daily chart, the setup is similar to the weekly pattern, reinforcing the broader bullish outlook.
Within this timeframe, the DigiByte coin price has broken above the upper trendline of a falling wedge, indicating a potential trend reversal following a prolonged consolidation phase.
At the same time, the Moving Average Convergence Divergence (MACD) has formed a bullish crossover.
If this trend continues, DGB could breach resistance at $0.011, paving the way for a rally toward $0.013.
However, if selling pressure intensifies, the breakout could lose strength. In that scenario, DGB’s price may fall back below the lower trendline, potentially retesting support near $0.0070 before attempting another rebound.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
