Darkcoin price dropped during yesterday’s and today’s trading sessions to score a low of around 0.01101 BTC, as we predicted during yesterday’s analysis.
By studying the 1 hour Cryptsy (DRK/BTC) charts from tradingview.com and keeping the Fibonacci retracements as per our yesterday’s analysis (look at the below chart), we can notice that DRK price declined from a high of around 0.01265 to a low of 0.01101 earlier today. As the price was declining, the support level at 0.01085 supported darkcoin price and resisted a further drop as shown by:
- The 2 Dojis forming on the 1 hour charts (look at the 2 candlesticks inside the blue cloud on the below chart).
- Long downwards shadows of the candlesticks on the 1 hour charts.
The 0.01085 BTC support level has just reversed the downtrend that has been controlling the market over the past 36 hours as shown by an upward sloping trend line that is pushing the price upwards. Once the price exceeds the 10 day EMA and the 20 day EMA, there will be a high probability of a bullish wave that can move the price upwards to test the 0.012102 BTC resistance level.
Darkcoin price declined yesterday to test the 0.01085 BTC support level which has proven to be strong enough to prevent a further drop in DRK price. Darkcoin price started to rise today and the new bullish wave seems to be building up strength, so we are likely to see it reach the 0.012102 resistance level soon enough.
Charts from Cryptsy