Darkcoin (DRK) has gravitated back below 0.005 BTC once again for the first time since early September. Like the declines across the broader crypto markets, its return has been fairly boring: a prolonged slide almost too gradual to deserve any major bounce.
It is currently trading at 0.0048 BTC. While still considerably off from the 0.0024 BTC (then worth $0.74) lows from the steep August sell-off, recall that bitcoin has also lost value during the interim. DRK is now worth $1.61.
Shedding about a third of its value in October, DRK has slipped well below its 50-day moving average (MA), now worth 0.0065 BTC.
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Current prices are indeed a good test point to see DRK’s next direction, as they seem to have offered some support in early September. They represent the remnant of its May rally, the first stage of which brought it near the equivalent of current levels in late April.
For those expecting the downtrend to continue, Darkcoin, along with Bitcoin and Litecoin, is one of the few digital currencies where short positions can be taken.