Cardano receives a strong long-term technical score of 81 from InvestorsObserver‘s research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin’s support and resistance levels, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.
ADA currently holds a superior long-term technical analysis score than 81% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. coins with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to ‘buy the dip’.
Trading Analysis
Cardano’s price is $0.0200000 (5.58%) above its 100-day moving average price of $0.330000000 as its price at the moment sits at $0.350000000. Additionally, ADA is $0.1100000 (-4431.79%) higher than its 52-week low price of $0.240000000 while -$1.28000000 (-591.67%) under its 52-week high of $1.630000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives ADA a strong long-term technical score of 81. Long-term trading movement of Cardano suggest that investors are neutral on the coin at the moment.
Cardano currently has a total market cap of $12,030,091,301.21 to go along with its average daily volume of $4,507,588,103.94 worth of the currency over the past seven days. ADA’s volume is below its seven day average as of the past 24 hours, with 785,570,996.42 exchanged in that period.
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
Trading patterns over the last year for Cardano leads to the coin’s a strong long-term technical score of 81 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the coin.
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