Can Constellation (DAG) crypto end its bearish run soon?

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Can Constellation (DAG) crypto end its bearish run soon?

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 Can Constellation (DAG) crypto end its bearish run soon?

Highlights

  • The Constellation ecosystem allows the users to distribute the data using the distributed ledger technology.
  • Constellation crypto, which primarily uses the directed acyclic graph architecture to achieve a consensus, has been down by 1.10% on 31 May.
  • Ranked 267 as per its market cap, the DAG crypto was trading at US$0.125971 with a trading volume of US$598,589 over a day.

The Constellation (DAG) crypto has had tough few months so far. Constellation crypto, which primarily uses the directed acyclic graph architecture to achieve a consensus, has been down over 44.3% in the past 30 days.

Even on 30 May, the token witnessed a fall of 1.38%, with the volume too suffering quite a bit by 13%.

The Constellation ecosystem allows the users to distribute the data using the distributed ledger technology. With its easy-to-use APIs, the DAG crypto makes crypto mass adoption a seamless process and helps enterprises build decentralised solutions and allows crypto token transactions.

Related read: What’s the reason for Verasity (VRA) crypto’s uptick?

Why is DAG crypto trailing? 

The DAG crypto seems to be suffering from the general sentiment prevailing in the market. Its participants preferred to either sell or choose to hold their tokens amidst the bearish run.

In fact, the chart suggests the same as the market has mainly witnessed a sideways moment with the RSI being stuck in the 33-35 range in the past 14 days.

Image credit: Trading view

Even the MACD line has converged with the signal line (in orange), indicating that the market participants have adopted a wait-and-watch approach after an increased selling pressure created earlier this month.

DAG crypto’s poor run has largely been to do with the market crash, which had wiped billions from the market. The market participants, for now, seem to have adopted a watchful approach and see how the crisis unfolds before deciding to make their presence felt.

Related read: Why DODO (DODO) crypto is catching investors’ attention?

How is DAG crypto faring?

The 197-ranked DAG was trading at US$0.092829 with a trading volume of US$7,61,967 over a day. The DAG crypto was down by up by 1.38% with a live market cap of US$11,74,40,370 and 1,26,69,11,931 DAG coins.

The DAG investors would be hoping that it will be able to reverse some of its losses with a rally and would hope that it can bring cheers to the market participants with a rally. How soon it can do so remains to be seen, but the rally would have buoyed the participants haven’t gone on a selling spree. The market participants who are new to the market must ensure that they do their market research before entering the market.  

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