The asking price hit the 1.6500 mark in early August, before retracing back to 1.4500. However, in late September, the ask reached a new high by touching the 1.7200 mark, before another decline appears to have started.
In the meantime, the bid price, which had been almost flat for most of first half of 2023 has also started to move higher. In September, the bid was as high as 1.5500.
Asking price chart
Bid price chart
Market Depth
Market Depth reveals, where traders have set up buy and sell orders. The up to date data is published at dukascoin.com. Below, one can observe the market orders on September 29.
For comparison of the buy and sell orders a range of 20 cents is chosen as criteria.
In regards to ask orders, there are orders to sell 5484.80 coins in the range from 1.5800 up to 1.7800. Note the concentration of orders at 1.6000, 1.6700 and 1.7300. Moreover, in the 1.5800/1.6800 range there are orders to sell at least 200 coins at each level.
Meanwhile, in the 1.3800/1.1800 range there are orders to buy up 2281.45 coins. There is only the 1.3100 level, where there are orders for more than 400 coins to be bought.
© Dukascopy Bank SA
© Dukascopy Bank SA
Future outlook
In general, it is clear that sell orders outnumber the buy orders. Namely, the proportion is 2.4 to 1. It is clear that the buying energy has been spent during the reaching of the recent high levels.
Due to the domination of the ask orders versus bid orders it can be expected that the price for Dukascoin could decline in the upcoming last quarter of 2023.