WaykiChain (WICC)

Current price: $ 0.13

24 hours price change: $ -0.03 (-16.55%)

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

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for WaykiChain. In this continuously updated article, we will explain the meaning and current trend of WaykiChain. The current ADX analysis is based on the historical prices of WaykiChain until January 22nd, 2022.

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 WaykiChain from 07/22/2021 until 01/22/2022.

In the chart above, the development of the price for WaykiChain is shown for the period from 07/22/2021 until 01/22/2022. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for WaykiChain until 01/22/2022.

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

WaykiChain average directional index 10.53
WaykiChain positive directional indicator 26.82
WaykiChain negative directional indicator 34.82

 

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 WaykiChain.

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

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

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

The WaykiChain currently follows a negative trend. For WaykiChain, the positive directional indicator is 26.82. The value for the negative directional indicator is higher (34.82). This means that the current trend of the WaykiChain is negative.

To measure the strength of the current trend, we look at the ADX. The value of the ADX for WaykiChain  is 10.53, meaning that the trend is very weak. The ADX for WaykiChain does not give us a good indication to start buying or selling WaykiChain.

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

 

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: Financial indicators for cryptocurrencies