DGBUSDT Market Overview

Summary
• Price declined 8.8% over 24 hours amid sharp volume spikes and bearish momentum.
• Key support levels tested around $0.0098 and $0.0094, with a bullish rebound attempt from $0.0092.
• RSI and MACD confirm overbought/oversold conditions, but divergences suggest caution.

DigiByte/Tether (DGBUSDT) opened at $0.01052 on 2025-11-06 at 12:00 ET, reached a high of $0.01085, and fell to a 24-hour low of $0.00915 before closing at $0.00933 at 12:00 ET on 2025-11-07. Total volume was 232,679,634.9 and total turnover was $11,544,981.20. Price is under clear bearish pressure, with key support at $0.0098 and resistance at $0.0105.

Structure & Formations

Price action over the 24-hour period shows a strong bearish trend, particularly from 19:45 ET onward when a sharp sell-off began. A bearish engulfing pattern formed on the 15-minute chart at 22:45 ET, confirming a potential trend reversal. Price later found support at $0.00926 and $0.00907 before forming a small bullish bounce. A key bearish breakdown occurred from $0.0105 to $0.00926, suggesting a continuation of downward momentum may occur.

Moving Averages

Short-term moving averages (20/50) on the 15-minute chart show price well below both, indicating strong bearish bias. Daily moving averages (50/100/200) are all in a downtrend, with price testing the 200-day MA at $0.0102 and failing to hold. This suggests further consolidation below $0.0098 is likely unless a strong reversal candle forms.

MACD & RSI

The RSI is currently at 35, suggesting moderate oversold conditions, but price remains in a bearish trend. MACD lines are negative and trending lower, confirming bearish momentum. Divergence in RSI during the 00:00–06:00 ET rebound attempt suggests caution about overbought readings—any rally may lack conviction.

Bollinger Bands

Volatility has expanded sharply since 22:45 ET when price broke below the lower Bollinger Band at $0.0098. Price has since traded within a narrow range, indicating a possible consolidation phase. A retest of the upper band at $0.0102 could trigger a short-term bounce, but a sustained close above this level is unlikely without volume confirmation.

Volume & Turnover

Volume spiked to $11,544,981.20 during the 22:45–06:00 ET selloff, with the most active 15-minute period at 22:45 ET (volume: $2,017,789.20). Turnover and price action are aligned during the breakdown, suggesting genuine bearish sentiment. The volume spike during the rebound from $0.00926 to $0.00933 was lower, indicating weak conviction in the move.

Fibonacci Retracements

Recent swings show key Fibonacci levels at 38.2% ($0.0099), 50% ($0.0096), and 61.8% ($0.0093). Price is currently consolidating near the 61.8% level, which may act as a short-term support. A break below $0.0093 could see further tests at the 78.6% level near $0.0088.

Backtest Hypothesis

To evaluate potential strategies, we could design a backtest around bearish engulfing patterns detected on the 15-minute chart. A bearish engulfing pattern forms when a large bearish candle follows a smaller bullish one, indicating potential bearish sentiment. Once detected, a short position is initiated with a stop-loss at the previous swing high and a target at the 61.8% Fibonacci level. Using daily data from 2022-01-01 to 2025-11-07, we can backtest this rule to assess profitability, win rate, and risk-reward ratios.

The next 24 hours may bring further volatility if market sentiment continues to deteriorate, but a retest of $0.0093 could provide a short-term bounce. Investors should remain cautious and monitor volume during any potential rally to confirm or reject the reversal. A break below $0.00907 could trigger another leg down, exposing deeper support levels.