Should You Buy Ethereum (ETH) Friday?
InvestorsObserver gives Ethereum a strong long-term technical score of 86 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.
ETH at this time has a superior long-term technical analysis score than 86% 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.
ETH is currently -$268.1000000 (-18.10%) below its 100-day moving average price of $1,481.010000000 with its current price of $1,212.910000000. Meanwhile, Ethereum is $316.8000000 (134.13%) above its 52-week low price of $896.110000000 and -$3,567.82000000 (25.16%) below its 52-week high of $4,780.730000000. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 86. Trends for the long-term trading history of Ethereum suggest that traders are currently neutral on the coin.
Ethereum currently has a total market cap of $148,428,249,139.01 to go along with its average daily volume of $5,969,516,744.53 worth of the currency over the past seven days. ETH’s volume is above its seven day average as of the past 24 hours, with 9,048,257,307.19 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.
Trading patterns over the last year for Ethereum leads to the coin’s a strong long-term technical score of 86 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the coin.
Click Here to get the full Report on Ethereum (ETH).