Darkcoin Price Technical Analysis for 25/2/2015 – Bullish Rally

Yesterday, darkcoin price rallied and recorded a high of 0.0127 BTC to overshoot above the 62% Fibonacci retracement fan level, before dropping below it to record a low of 0.01150 BTC earlier today.

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 plotting the MACD indicator (look at the below chart), we can conclude the following:

Conclusion:

Darkcoin price exhibited a bullish rally yesterday that pushed the price upwards to break the 50% and 62% Fibonacci retracement levels successively. Price will most probably move in between these 2 levels for some time before attempting to test the 62% fan level again.

 

Charts from Cryptsy

Exit mobile version