Cardano receives a strong long-term technical score of 69 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 69% 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 -$0.2600000 (-17.77%) below its 100-day moving average price of $1.460000000 as its price at the moment sits at $1.200000000. Additionally, ADA is $0.5300000 (-1463.85%) higher than its 52-week low price of $0.670000000 while -$1.90000000 (-283.91%) under its 52-week high of $3.100000000. 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 69. Long-term trading movement of Cardano suggest that investors are neutral on the coin at the moment.
Cardano has a total market value of $40,345,599,283.84 with an high average daily volume of $9,626,006,475.20 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 $1,327,169,091.07 exchanged in total.
Summary
Trading patterns over the last year for Cardano leads to the coin’s a strong long-term technical score of 69 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the coin.
Stay In The Know
Subscribe to our daily morning update newsletter and never miss out on the need-to-know market news, movements, and more.
Thank you for signing up! You’re all set to receive the Morning Update newsletter
