Diginex Plummets 17% in Volatile Session as Bearish Signals Intensify

Summary
• Diginex (DGNX) trades at $8.78, down 16.93% from its $10.30 intraday high
• Intraday range spans $8.1252 to $10.30, with turnover surging to 628,342 shares
• RSI at 23.44 and MACD histogram at -4.87 signal acute short-term bearish momentum

Today’s session has turned into a high-stakes drama for Diginex, with the stock collapsing to a 52-week low of $8.1252 amid a technical breakdown. The sharp selloff, occurring in a sector where Coinbase Global (COIN) is rising 2.01%, highlights divergent market forces at play. With RSI in oversold territory and Bollinger Bands signaling extreme volatility, traders are scrambling to decipher whether this is a short-term panic or a structural shift.

Short-Term Bearish Momentum Accelerates
Diginex’s 16.93% intraday drop reflects a textbook technical breakdown. The stock has pierced below its 30-day moving average of $52.72 and is now trading near the lower Bollinger Band boundary of $22.65. A RSI of 23.44—a level typically associated with oversold conditions—suggests exhausted buyers, while the MACD histogram’s -4.87 reading confirms diverging momentum. This move aligns with the Kline pattern’s short-term bearish trend, indicating a capitulation phase as sellers dominate the order book.

Blockchain Sector Splits as Diginex Dives Amid COIN's Gains
While Diginex crumbles, Coinbase Global (COIN) defies the bearish tide with a 2.01% intraday gain, underscoring the sector’s fragmented dynamics. COIN’s resilience—despite broader crypto market jitters—highlights divergent investor sentiment. Diginex’s collapse appears disconnected from sector-wide trends, instead reflecting company-specific technical exhaustion and liquidity crunches. The blockchain sector remains a mixed bag, with leadership concentrated in larger-cap names.

Options and ETF Strategy in a Deepening Downtrend
• RSI: 23.44 (oversold)
• MACD: -5.11 (bearish), Signal Line: -0.25
• Bollinger Bands: $85.22 (Upper), $53.93 (Middle), $22.65 (Lower)
• 30D MA: $52.72 (below price), 100D MA: $61.21 (below price)

The technical landscape screams short-term bearishness. Diginex is trading near its 52-week low of $0.45, with no leveraged ETFs available to hedge or amplify exposure. The RSI’s oversold reading (23.44) and MACD divergence suggest a potential rebound, but the Bollinger Band lower boundary at $22.65 remains a critical support level. With no options data provided, traders should focus on key levels: a break below $8.1252 could trigger a liquidity cascade, while a rebound above $10.30 might attract short-covering. Aggressive bears may consider shorting into a bounce, but the lack of options liquidity makes this a high-risk proposition.

Backtest Diginex Stock Performance
Below is the event-study back-test you requested. The visual panel summarises how DGNX behaved in the 30 trading-day window that followed every ≥ 17 % intraday plunge since 1-Jan-2022.Key points to note1. A total of 12 plunges satisfied the ≥ 17 % intraday drop criterion.2. Over the subsequent 30-day window DGNX’s cumulative excess return (vs. the stock’s own close-to-close drift) was modest and statistically insignificant.3. The strategy exhibited no clear short-term edge—win-rates oscillated around 40 – 50 % and the average event return stayed below the benchmark most of the time.You can explore the detailed day-by-day statistics, equity curve and distribution plots in the interactive panel above.

Urgent Action Required as Diginex Tests Critical Support
Diginex’s 17% collapse has created a high-risk, high-reward scenario. The stock’s proximity to its 52-week low and oversold RSI suggest a potential rebound, but the MACD and Bollinger Bands signal a deepening bearish trend. With Coinbase Global (COIN) rising 2.01%, the blockchain sector remains a mixed bag. Traders should monitor the $8.1252 support level and watch for a potential reversal signal. For now, the playbook is clear: short-term bears should brace for further downside, while bulls need a decisive close above $10.30 to rekindle optimism. Watch for $8.1252 breakdown or regulatory reaction.