Matic Network (MATIC)

Current price: $ 0.67

24 hours price change: $ -0.01 (-1.56%)

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

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for Matic Network. In this continuously updated article, we will explain the meaning and current trend of Matic Network. The current ADX analysis is based on the historical prices of Matic Network until April 18th, 2024.

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 Matic Network from 10/18/2023 until 04/18/2024.

In the chart above, the development of the price for Matic Network is shown for the period from 10/18/2023 until 04/18/2024. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for Matic Network until 04/18/2024.

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

Matic Network average directional index 27.65
Matic Network positive directional indicator 22.64
Matic Network negative directional indicator 63.68

 

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 Matic Network.

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

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

Matic Network 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 Matic Network 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 negative signal for Matic Network. The positive directional indicator for Matic Network is 22.64, which is lower than the negative directional indicator (63.68). Therefore, the trend that Matic Network follows is negative.

The current ADX value is 27.65, which tells us that the current trend is strong. Using these values, we can asume that the Matic Network will continue its downwards trend. In short, the current average directional index gives us a selling signal for the Matic Network. However, you should always be aware, since trends are changing from time to time.

 

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