Cardano receives an average long-term technical score of 44 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 44% 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 -$0.1600000 (-16.06%) below its 100-day moving average price of $1.020000000 as its price at the moment sits at $0.860000000. Additionally, ADA is $0.1000000 (-1347.42%) higher than its 52-week low price of $0.750000000 while -$2.24000000 (-295.03%) 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 an average long-term technical score of 44. Long-term trading movement of Cardano suggest that investors are bearish on the coin at the moment.
Cardano has a total market value of $28,908,348,969.40 with an high average daily volume of $3,395,462,696.28 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 $881,121,862.20 exchanged in total.
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 an average long-term technical score of 44 as its price movement in that time has given traders reason to be bearish on the coin in the long-term.
Click Here to get the full Report on Cardano (ADA).
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