DigixDAO (DGD)

Current price: $ 614.80

24 hours price change: $ -47.57 (-7.18%)


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

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for DigixDAO. In this continuously updated article, we will explain the meaning and current trend of DigixDAO. The current ADX analysis is based on the historical prices of DigixDAO until September 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 DigixDAO from 03/22/2021 until 09/20/2021.

In the chart above, the development of the price for DigixDAO is shown for the period from 03/22/2021 until 09/20/2021. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for DigixDAO until 09/20/2021.

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

DigixDAO average directional index 16.06
DigixDAO positive directional indicator 45.87
DigixDAO negative directional indicator 52.17


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 DigixDAO.

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

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

DigixDAO 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 DigixDAO is assumed to be positive. An important signal is when the -DI (red line) and +DI (green line) crosses over.

The DigixDAO currently follows a negative trend. For DigixDAO, the positive directional indicator is 45.87. The value for the negative directional indicator is higher (52.17). This means that the current trend of the DigixDAO is negative.

To measure the strength of the current trend, we look at the ADX. The value of the ADX for DigixDAO  is 16.06, meaning that the trend is very weak. The ADX for DigixDAO does not give us a good indication to start buying or selling DigixDAO.

To get a good signal to trade DigixDAO, we have to wait until the trend gives us a higher ADX value in the current negative trend.


About Us

We use cookies on our website. Some of them are essential for the operation of the site, while others help us to improve this site and the user experience (tracking cookies). You can decide for yourself whether you want to allow cookies or not. Please note that if you reject them, you may not be able to use all the functionalities of the site.