Synthetix Network Token (SNX)

Current price: $ 22.46

24 hours price change: $ -1.15 (-4.87%)

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

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for Synthetix Network Token. In this continuously updated article, we will explain the meaning and current trend of Synthetix Network Token. The current ADX analysis is based on the historical prices of Synthetix Network Token until March 4th, 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 Synthetix Network Token from 09/03/2020 until 03/04/2021.

In the chart above, the development of the price for Synthetix Network Token is shown for the period from 09/03/2020 until 03/04/2021. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for Synthetix Network Token until 03/04/2021.

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

Synthetix Network Token average directional index 20.26
Synthetix Network Token positive directional indicator 30.87
Synthetix Network Token negative directional indicator 33.83


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 Synthetix Network Token.

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

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

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

As you can see in the chart above, the Synthetix Network Token follows a negative trend. The positive directional indicator (30.87) is lower than the negative directional indicator (33.83). When the Synthetix Network Token is in this kind of situations, the trend is negative.

Allthough the trend is negative, the current situation of the trend of Synthetix Network Token is not that strong. The ADX gives us a value of 20.26, which means that the trend currently followed by Synthetix Network Token is a weak one. To get clear signals from the ADX for Synthetix Network Token, you should wait until the ADX moves upwards of 25.

As mentioned, the current trend is negative, however the trend might flip over to a positive trend.


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