Constellation (DAG) Technical Analysis 2021 for Crypto Traders

Constellation (DAG) Technical Analysis 2021 for Crypto Traders

In Constellation (DAG) Technical Analysis 2021, we use past statistics, price analysis, RSI, RVOL, and much other information about DAG to analyze the future movement of the cryptocurrency. 

Constellation is a framework that allows everyone to build and conduct business on a blockchain. Existing blockchain technology does not support the speed, scalability, and economic incentive needed to build applications with robust business logic. 

Constellation network has developed its native token DAG on its Hypergraph Network. DAG is not a security and instead provides utility to engage in Constellation’s digital economy.

Constellation (DAG) Current Market Status

According to CoinMarketCap, the DAG price is trading at $0.2772 with a 24-hour trading volume of $3,804,075, at the time of writing. However, DAG has decreased by 0.52% in the last 24 hours. 

In addition, DAG has a circulating supply of 1.27B DAG. Currently, DAG trades in  HitBTC, KuCoin, Hotbit, and LCX Exchange.

Constellation (DAG) Technical Analysis 2021 

Constellation (DAG) holds the 146th position on CoinMarketCap right now. The recent development and upgrades might push DAG to reach new heights. Now, let’s deep dive into the DAG technical analysis 2021. The weekly time frame chart of Constellation (DAG) is shown below.

       DAG/USDT Higher High and Higher Low Pattern (Source: Tradingview)

The above chart shows the  Higher High and Higher Low patterns. When the highs and lows on the chart move up, a bullish trend occurs. Prices in this uptrend can be viewed as higher highs and higher lows. Prices from the previous period that were seen as highs are now even higher than they were before the uptrend began.

Not only did the highs fall higher, but the lows of the previous period also increased and fell higher than before. And this indicates that the price has risen and the total value has risen and that it is time to sell and make a profit before the downtrend occurs.

DAG trades in a range of $0.2. If the price breaks the trend line support level of $0.032 then it will lead to a further drop up to the $0.005 level. If the pattern continues to the top side, then it will reach the $1.05 level soon.

Constellation (DAG) RSI

The below chart shows the relative strength index (RSI) of DAG. 

DAG RSI (Source: TradingView)

As shown in the below chart, RSI remains at 73.29. This shows that DAG’s price is in an overbought state. However, this shows that traders can trade carefully.

Constellation (DAG) RVOL

The below chart shows the Relative Volume of DAG. RVOL is an indicator that represents to traders how the current trading volume has changed over a period of time compared to the past trading volume.

DAG RVOL(Source: TradingView)

Notably, in the last week of June, it is found that the RVOL of DAG observed is weaker. Currently, the RVOL of DAG remains below the cutoff line which represents the weaker participants in the current trend.

Constellation (DAG) Moving Average

DAG’s Moving Average (MA) is shown in the chart below. Moving Average is a part of technical analysis that supports traders to find trends.

DAG MA (Source: TradingView)

Currently, DAG is in a bullish state. However, the DAG price touches 50 MA (short-term), and it has a high chance of moving above the 50 MA level. DAG price is above 200 MA (long-term). Moreover, there is a high possibility of a trend reversal at any time.

Constellation (DAG) Price Comparison With Bitcoin

The below chart shows the price comparison between DAG and BTC. 

DAG vs BTC Price Comparison chart(Source: TradingView)

From the chart, we can identify the trend of the BTC and DAG is moving at the same level as the trend. This indicates when the price of BTC increases or decreases, the price of DAG also increases or decreases respectively.

Conclusion

With the ongoing developments and upgrades that are taking place within the DAG platform. Constellation has a great future ahead in this crypto market. However, DAG can reach new heights.

Bullish DAG price prediction for 2021 is $ 1.05. As mentioned above, it may reach great heights, however reaching $1.10, if investors have decided that DAG is a good investment in 2021.

FAQ

What is Constellation?

Constellation is a framework that allows everyone to build and conduct business on a blockchain.

Where can you purchase DAG?

DAG is listed on many cryptocurrency exchanges that include DAG trades in  HitBTC, KuCoin, Hotbit, and LCX Exchange.

Will DAG reach a new ATH soon?

With the ongoing developments and upgrades inside the DAG platform, it has a high possibility of reaching its ATH soon.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto. She is an enthusiastic reader and writer with passion for sharing crypto news and trends.