DGD - Falling Wedge near Completion
Looking at the daily chart for DGD, it looks like it is at the very end of its falling wedge. The MACD shows bullish divergence developing since late May. The Bollinger Bands are getting quite tight and the price action has moved beyond the bottom boundary. All these indicate to me that DGD is getting ready for a bounce. I could see a couple things happening from here: 1) We could have a big bounce similar to the one back in February 2) We have a break to the upside, but bounce off the resistance trend originating from its all-time high and stay within the larger falling wedge until September/October. I am leaning more towards the latter (option 2). Being a gold-oriented cryptocurrency, I think DGD goes berserk in the fall when precious metals really take off. Right now PMs are grossly oversold, but they will have their day soon and I imagine there will be a correlation in their rise in demand along with DGD's. In the meantime, the bounce could be quite nice and DGD has an excellent rewards program for investors who actively participate in the voting DAO community. Totally worth looking into in my opinion, especially if you're a hodler and get in while the price is this cheap.
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