DigiByte (DGB)

Current price: $ 0.12

24 hours price change: $ -0.03 (-21.71%)

DigiByte ADX

The Average Directional indicator (or ADX) is a directional trading indicator that is used to identify a technical trend, in this case of the DigiByte. The trend that is being identified, can be both a positive trend as a negative trend in the pricedevelopment of DigiByte.

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for DigiByte. In this continuously updated article, we will explain the meaning and current trend of DigiByte. The current ADX analysis is based on the historical prices of DigiByte until April 20th, 2021.

In the chart below, the strength the trend is drawn, as well as the positive and negative directional indicators. The ADX (Average Directional Index) is the black line. The positive directional indicator (+DI) is the green line, and the negative directional indicator (-DI) is drawn in red.

Price chart for DigiByte from 10/20/2020 until 04/20/2021.

In the chart above, the development of the price for DigiByte is shown for the period from 10/20/2020 until 04/20/2021. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for DigiByte until 04/20/2021.

In the charts above, you can see the trends of the ADX, +DI and -DI. The current values of these three indicators for the DigiByte are listed in the table below.

DigiByte average directional index 34.58
DigiByte positive directional indicator 64.67
DigiByte negative directional indicator 19.43

 

Several signals can be gained from the chart above. First of all, the green line gives us an indication of the positive trend. The opposite line, the red one, indicates the negative trend for DigiByte.

When the green line tops the red line, the DigiByte is in a positive trend. However, when the situation turns around, the trend has also changed to a negative trend for DigiByte.

Furthermore, the black line gives the strength of the current trend of DigiByte, both positive and negative. The higher the black line (ADX), the stronger the trend.

DigiByte ADX score

The Average Directional Index (ADX) is used to measure the strength or weakness of a trend, not the actual direction. In general, when the positive directional indicator is higher than the negative directional in indicator, the trend of DigiByte is assumed to be positive. An important signal is when the -DI (red line) and +DI (green line) crosses over.

The current directional indicator gives a positive signal for DigiByte. The positive directional indicator for DigiByte is 64.67, which is higher than the negative directional indicator (19.43). The trend that the DigiByte follows is a positive one.

The current ADX value is 34.58, which tells us that the current trend is strong. Using these values, we can asume that the DigiByte will continue its upwards trend. In short, the current average directional index gives us a buying signal for the DigiByte. However, keep an eye on turning trends.

 

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