Tether receives a strong long-term technical score of 88 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 88% 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’.
Trading Analysis
USDT is currently $0.0000000 (0.04%) above its 100-day moving average price of $1.000000000 with its current price of $1.000000000. Meanwhile, Tether is $0.0100000 (-1006.01%) above its 52-week low price of $0.990000000 and -$0.03000000 (-871.16%) below its 52-week high of $1.030000000. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 88. Trends for the long-term trading history of Tether suggest that traders are currently neutral on the token.
Tether has a total market value of $77,649,353,118.77 with an high average daily volume of $390,714,071,267.23 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, USDT’s volume is below its average with $54,564,817,785.06 exchanged in total.
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).
Summary
Technical analysis of Tether over the past year results in the crypto receiving a a strong long-term technical score of 88 as its price movement in that time has given traders reason to be neutral on the token in the long-term.
Read More:Tether (USDT): How Does it Rank Saturday on Long-Term Trading Metrics?
