Fueled by good news DigixDAO (DGD) will probably break out

DigixDAO (DGDBTC) is usually inversely correlated with BTCUSD: whenever Bitcoin drops, DigixDAO tends to raise and whenever BTCUSD raises, DigixDAO tends to drop.

However, doing the past few days, in spite of BTC raising, DigixDAO has been increasing in price, gaining a market capitalization of over $ 1 billion and reaching rank #26 on CoinMarketCap.com, a little bit behind Binance Coin (BNB) which is #25.

I attribute this to major good news being reported by DigixDAO on the 27th of February:

• launch of marketplace for DGX at the end of Q1 2018
  
• demo version already undergoing testing on Kovan Ethereum testnet
  
• new people hired
  
• conference at the University of Singapore about the future of blockchains and crypto
  

I think that what DigixDAO will do (store real gold and make it available as Ethereum tokens) is easily worth $1 billion to the community.

DigixDAO has currently encountered resistance at a level of around 500 USD. I think that, if the pressure on the resistance continues for a few more hours, it will break out. The assault against the resistance zone has already lasted for about 12 hours, forming a bullish triangle. Just a few hours more and it will probably break out.

If it breaks out, DigixDAO (DGDBTC) will be #25 on CoinMarketCap, taking the place of Binance Coin (BNB). It is a good project which has made good progress. HODL! :)