Electroneum (ETN)

Current price: $ 0.007846

24 hours price change: $ 0.000484 (6.58%)

Electroneum 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 Electroneum. The trend that is being identified, can be both a positive trend as a negative trend in the pricedevelopment of Electroneum.

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for Electroneum. In this continuously updated article, we will explain the meaning and current trend of Electroneum. The current ADX analysis is based on the historical prices of Electroneum until June 5th, 2020.

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 Electroneum from 12/06/2019 until 06/05/2020.

In the chart above, the development of the price for Electroneum is shown for the period from 12/06/2019 until 06/05/2020. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for Electroneum until 06/05/2020.

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

Electroneum average directional index 28.31
Electroneum positive directional indicator 50.77
Electroneum negative directional indicator 47.27

 

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 Electroneum.

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

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

Electroneum 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 Electroneum 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 Electroneum. The positive directional indicator for Electroneum is 50.77, which is higher than the negative directional indicator (47.27). The trend that the Electroneum follows is a positive one.

The current ADX value is 28.31, which tells us that the current trend is strong. Using these values, we can asume that the Electroneum will continue its upwards trend. In short, the current average directional index gives us a buying signal for the Electroneum. However, keep an eye on turning trends.

 

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