Darkcoin (DRK) has roared back by over 200% since hitting the trenches near 0.0025 BTC on two separate occasions.
On Monday, the coin tanked to as low as 0.0024 BTC (approx. $1.05) during a volatile period for crypto markets which saw Bitcoin’s flash crash on BTC-e. At that point, it was down by 50% in under 24h. Thereafter, it skyrocketed by over 100% to 0.0055 BTC in some of the wildest trading in recent memory, only to surrender nearly all its gains as it plunged back to 0.0027 BTC 6h later.
From there, DRK started its comeback and soared over 200% to 0.0087 BTC, challenging its highest level in 4 days, which has become a bit of a resistance point. Indeed, it looks like the rally has lost steam, at least for now. It is currently trading at 0.0074 BTC ($3.55) on MintPal.
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The mid-term trend is still decidedly downward, the coin unable to climb back above 0.01 BTC to signal a reversal. Doing so would actually be a significant feat, as that is now the coin’s 50-day moving average. It has not traded above this mark since early July. DRK is currently trading at a 25% discount to this level.
With the rise, DRK is back to 7th in market cap rank, 4th among mineable currencies, and now worth $13.8 million.