Let’s use a 1-hour candlestick chart as an example of how this type of price chart gives us information about opening and closing prices. The chart is divided into “candles” that give us information about Dragon Coin’s price action in 1-hour chunks. Each candlestick will display DRG’s opening price, closing price, as well as the highest and lowest prices that Dragon Coin reached within the 1-hour period. The purpose of a moving average (MA) is to smooth price action over a certain amount of time.
- For example, a 12-day simple moving average for DRG is a sum of DRG’s closing prices over the last 12 days which is then divided by 12.
- When trying to predict the Dragon Coin price, traders also try to identify important support and resistance levels, which can give an indication of when a downtrend is likely to slow down and when an uptrend is likely to stall.
- Currently, the Dragon Coin Fear & Greed Index stands at 48, which means that investors’ sentiment is in the so-called Neutral zone.
- Scores are based on common sense Formulas that we personally use to analyse crypto coins & tokens.
- 1-hour, 4-hour and 1-day candlestick charts are among the most popular.
An RSI reading under 30 indicates that the asset is currently undervalued, while an RSI reading above 70 indicates that the asset is currently overvalued. Many cryptocurrency traders pay close attention to the markets when the current Dragon Coin price crosses an important moving average like the 200-day SMA. Some traders try to identify candlestick patterns when making cryptocurrency price predictions to try and get an edge over the competition. Some candlestick formations are seen as likely to forecast bullish price action, while others are seen as bearish. 50-day, 100-day and 200-day moving averages are among the most commonly used indicators in the crypto market to identify important resistance and support levels. If the DRG price moves above any of these averages, it is generally seen as a bullish sign for Dragon Coin.
What will the price of Dragon Coin be next month?
The Dragon Coin price prediction on CoinCodex is calculated using the historical Dragon Coin price dataset, accounting for past volatility and market movements. In addition, the algorithm uses the cyclical nature of Bitcoin halvings, which introduce extra supply-side pressure on BTC every 4 years. This has historically played a pivotal role in cryptocurrency markets and is a major component of creating a realistic Dragon Coin prediction. The RSI (Relative Strength Index) is a very popular technical indicator used to analyze prices of a variety of assets, including Dragon Coin. The readings produced by the RSI indicator range from 0 to 100, with 30 and 70 being important levels.
Just like with any other asset, the price action of Dragon Coin is driven by supply and demand. These dynamics can be influenced by fundamental events such as block reward halvings, hard forks or new protocol updates. Regulations, difference between debenture and loan adoption by companies and governments, cryptocurrency exchange hacks, and other real-world events can also affect the price of DRG. The market capitalization of Dragon Coin can change significantly in a short period of time.
- Conversely, a drop below an important moving average is usually a sign of weakness in the DRG market.
- Some charts will use hollow and filled candlestick bodies instead of colors to represent the same thing.
- Trading and investing in digital assets is highly speculative and comes with many risks.
- The 200-day SMA is calculated by taking Dragon Coin’s closing prices in the last 200 days, adding them together, and dividing the total by 200.
Moving averages are a lagging indicator which means they are based on previous price action. In the table below you can find two types of moving averages, simple moving average (SMA) and exponential moving average (EMA). CoinCheckup provides live cryptocurrency prices and charts, listed by how to place a limit order crypto market cap. Get latest crypto prices, predictions,
news, and historical data for Bitcoin and thousands of altcoins. Most traders use candlestick charts, as they provide more information than a simple line chart. 1-hour, 4-hour and 1-day candlestick charts are among the most popular.
What is Dragon Coin’s price prediction today?
When trying to make a Dragon Coin forecast, many traders also try to monitor the activity of DRG “whales”, which are entities and individuals that control large amounts of DRG. Since the Dragon Coin market is relatively small compared to traditional markets, “whales” can single-handedly have a big influence on Dragon Coin’s price movements. The current Dragon Coin sentiment is neutral according to our technical analysis. Traders also like to use the RSI and Fibonacci retracement level indicators to try and ascertain the future direction of the DRG price. Dragon Coin is an Ethereum utility token that will offer an enhanced low-cost and transparent financial mechanism within Casinos. DRG tokens will be used for participate at Casinos using Dragon`s Blockchain and will be exchanged for Dragon Global Chips (a cryptocurrency gaming chip).
It’s also important to pay attention to the color of the candle – a green candle means that the closing price was higher than the opening price, while a red candle tells us the opposite. Some charts will use hollow and filled candlestick bodies instead of colors to represent the same thing. Dragon Coins (DRG) is the #1745 largest cryptocurrency by market cap as of October 05, 2023, with a market cap of $1,434,438 USD. Dragon Coin’s current circulating supply is 348.66M DRG out of max supply of 442.70M DRG. In terms of market cap, Dragon Coin is currently ranked #1057 in the Ethereum (ERC20) Tokens sector.
What Is Dragon Coins’s Price Today?
Currently, the Dragon Coin Fear & Greed Index stands at 48, which means that investors’ sentiment is in the so-called Neutral zone. To get a better idea of what could happen to the Dragon Coin price in the future, it’s helpful to also explore Dragon Coin’s price history. Etsy is no longer supporting older versions of your web browser in order to ensure that user data remains secure.
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When trying to predict the Dragon Coin price, traders also try to identify important support and resistance levels, which can give an indication of when a downtrend is likely to slow down and when an uptrend is likely to stall. The Fear & Greed Index combines several market and investment indicators, including 30- and 90-day volatility, trading volume, social media activity, and Google Trends data. The Fear & Greed Index can be a useful measure of Dragon Coin investors’ sentiment, and is based primarily on Bitcoin-related market data. The 50-day SMA is calculated by adding together Bitcoin’s closing prices in the last 50 days, and dividing the total by 50.
Currencies that are positively correlated with Dragon Coin indicate that the movement of one has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with Dragon Coin, a move in one direction for Dragon Coin would translate into a move in the opposite direction for the negatively correlated coin. There are currently 348,657,484 Dragon Coins coins circulating out of a max supply of 442,695,970.
Dragon Coins Fundamentals
Moving averages are among the most popular Dragon Coin price prediction tools. As the name suggests, a moving average provides the average closing price for DRG over a selected time frame, which is divided into a number of periods of the same length. For example, a 12-day simple moving average for DRG is a sum of DRG’s closing prices over the last 12 days which is then divided by 12.
The table above shows the number of days which Dragon Coin closed above a certain price level. Dragon Coin price in US Dollar has increased by 0.00% in the last 1 month. DRG is up 1.28% against Ethereum and down -6.21% against Bitcoin in the last 1 month. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.
The 200-day SMA is calculated by taking Dragon Coin’s closing prices in the last 200 days, adding them together, and dividing the total by 200. Trading and investing in digital assets is highly speculative and comes with many risks. The analysis / stats on CoinCheckup.com are for informational purposes and should not be considered investment advice. how to buy request network Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Scores are based on common sense Formulas that we personally use to analyse crypto coins & tokens. Based on multiple technical quantitative indicators, the current forecast for Dragon Coin in 2023 is neutral.