Multi Collateral Dai is Up for the 2nd Day in a Row

By Paul Drysdale On Sep 26, 2021

The Hourly View for Multi Collateral Dai

At the moment, DAI’s price is down $0 (0%) from the hour prior.
Multi Collateral Dai has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes.
Of note is that the 100 hour changed directions on DAI; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Multi Collateral Dai’s hourly price chart is shown below.

At the time of this writing, DAI’s price is up $0 (0.01%) from the day prior.
It’s been a feast for bulls operating on the daily timeframe, as Multi Collateral Dai has now gone up 4 of the past 5 days.
If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Divergence between DAI’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in DAI’s price.

Below is a daily price chart of Multi Collateral Dai.

DAI has a count of active addresses of 5878, up 2.33% from its value day prior.
Over the past 29 weeks, DAI’s number of daily new addresses has been in a clear downtrend, falling by about 11.52 per day.
For DAI, its daily large transaction count is now at 787.