How Does it Rank Sunday on Long-Term Trading Metrics?
Tether receives a weak long-term technical score of 27 from InvestorsObserver‘s research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the token’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.
USDT currently holds a superior long-term technical analysis score than 27% 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. tokens 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’.
Tether’s price is $0.0000000 (0.00%) below its 100-day moving average price of $1.000000000 as its price at the moment sits at $1.000000000. Additionally, USDT is $0.0500000 (-1054.31%) higher than its 52-week low price of $0.950000000 while -$0.03000000 (-871.23%) under its 52-week high of $1.030000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives USDT an average long-term technical score of 27. Long-term trading movement of Tether suggest that investors are bearish on the token at the moment.
Tether has a market capitalization of $69,364,213,969.41 and a relatively high average daily volume with $368,650,434,138.04 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, USDT’s volume is below its seven day average with 48,211,850,341.67 exchanged.
This token’s subclass Stablecoins: Stablecoins are cryptocurrencies whose value is designed to track the performance of fiat money (such as the U.S. Dollar or Euro).
Trading patterns over the last year for Tether leads to the token’s a weak long-term technical score of 27 as its consistency, volatility, and relation to long-term averages has given investors reason to be bearish on the token.
Click Here to get the full Report on Tether (USDT).
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