Financial and Business News

Darkcoin trending lower, falls back below 0.005 BTC

Monday, 01/09/2014 | 15:21 GMT by Leon Pick
Darkcoin trending lower, falls back below 0.005 BTC

After bouncing more than 200% following its drop to below 0.0025 BTC, Darkcoin (DRK) has gradually crept back toward 4-month lows.

It is now trading at 0.0048 BTC ($2.30) on MintPal and Cryptsy, although well off lows of 0.0042 BTC set 72 hours ago.

It has shed 38% since reaching what can be described as its dead cat bounce to 0.0076 BTC- the coin is now off by more than 80% since peaking to 0.0269 BTC during its May rally.

The unrelenting pace of decline means that DRK now trades 43% below its 50-day moving average, now at 0.0083 BTC.

DRK-BTC- Sept 1

The coin is still holding its ground over what can still be considered as a reliable level of support in the range on 0.0025-0.003 BTC, which served as a stable platform during for further advance the earliest stage of the May rally.

DRK has slipped backed to 8th in market cap, 5th among mineable currencies. Its total valuation is now $10.7 million.

After bouncing more than 200% following its drop to below 0.0025 BTC, Darkcoin (DRK) has gradually crept back toward 4-month lows.

It is now trading at 0.0048 BTC ($2.30) on MintPal and Cryptsy, although well off lows of 0.0042 BTC set 72 hours ago.

It has shed 38% since reaching what can be described as its dead cat bounce to 0.0076 BTC- the coin is now off by more than 80% since peaking to 0.0269 BTC during its May rally.

The unrelenting pace of decline means that DRK now trades 43% below its 50-day moving average, now at 0.0083 BTC.

DRK-BTC- Sept 1

The coin is still holding its ground over what can still be considered as a reliable level of support in the range on 0.0025-0.003 BTC, which served as a stable platform during for further advance the earliest stage of the May rally.

DRK has slipped backed to 8th in market cap, 5th among mineable currencies. Its total valuation is now $10.7 million.

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About the Author: Leon Pick
Leon Pick
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