InvestorsObserver gives Cardano a weak long-term technical score of 28 from its research. The proprietary scoring system take into account the historical trading patterns from recent months to a year of the coin’s support and resistance levels, in addition to where it is relative to long-term averages. The analysis helps to determine whether it’s a strong buy-and-hold investment opportunity currently for traders.
ADA at this time has a superior long-term technical analysis score than 28% of crytpos in circulation. The Long-Term Rank will be most relevant to buy-and-hold type investors who are looking for strong steady growth when allocating their assets. Combining a high long and short-term technical score will also help portfolio managers discover coins that have bottomed out.
Trading Analysis
The current trading price of $0.340000000 for ADA is -$0.1300000 (-27.71%) below the coins 100-day moving average of $0.470000000. ADA meanwhile is $0.0000000 (-3194.52%) above its 52-week low of $0.330000000 and -$2.04000000 (-406.72%) under its 52-week high price of $2.380000000. Cardano’s current price relative to the coins long-term average and 52-week high and low, gives the crypto an average long-term technical score of 28. The price movement and range of ADA suggest that investors are bearish on the coin at this time.
Cardano has a total market value of $11,544,111,280.76 with an high average daily volume of $2,923,303,727.53 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, ADA’s volume is below its average with $534,896,641.54 exchanged in total.
This coin’s subclass Distributed Software Platform: A platform is a decentralized infrastructure designed for a purpose. These can take the form of exchanges for the trading of cryptocurrencies, decentralized data storage, artificial intelligence, virtual or augmented reality, distributed computing and big data collection, among other things.
Summary
Technical analysis of Cardano over the past year results in the crypto receiving a a weak long-term technical score of 28 as its price movement in that time has given traders reason to be bearish on the coin in the long-term.
