Cardano receives a strong long-term technical score of 94 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the coin’s consistency, volatility, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.
Currently, ADA holds a superior long-term technical analysis score than 94% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover coins that have bottomed out.
Trading Analysis
Cardano’s price is $0.0700000 (21.50%) above its 100-day moving average price of $0.330000000 as its price at the moment sits at $0.400000000. Additionally, ADA is $0.1600000 (-4412.13%) higher than its 52-week low price of $0.240000000 while -$0.86000000 (-763.59%) under its 52-week high of $1.260000000. 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 94. Long-term trading movement of Cardano suggest that investors are neutral on the coin at the moment.
Cardano has a market capitalization of $13,679,138,417.80 and a relatively high average daily volume with $2,826,236,992.08 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, ADA’s volume is below its seven day average with 316,772,026.68 exchanged.
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 strong long-term technical score of 94 as its price movement in that time has given traders reason to be neutral on the coin in the long-term.
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