USD Coin May Be Offering a Trading Opportunity With Its Cross Above Its 20 Moving Average

The Hourly View for USD Coin

USDC’s 0.9999 price in the hour prior was especially unusual given the typical amount recorded over the past 30 hour.
• This is a reversal of the price action on the previous hour, in which price moved up.
• If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes.
• Regarding moving averages, it should first be noted that price has crossed the 100, 20, 200 and 50 hour moving averages, resulting in them so that price is now turning below them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USD Coin’s hourly price chart is shown below.

The Daily View for USD Coin

• At the time of this writing, USDC’s price is down $0 (-0.1%) from the day prior.
• USD Coin has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
• If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
• Regarding moving averages, it should first be noted that price has crossed the 20, 200 and 50 day moving averages, resulting in them with price now being below them. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
• Divergence between USDC’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in USDC’s price.

Below is a daily price chart of USD Coin.

The Latest From USDC’s Blockchain

• USDC’s daily transaction count now stands at 52801.
• Over the past 29 weeks, the trend for USDC’s daily transaction count has been choppy and unclear. It has oscillated between 32180 and 125575.
• USDC has a number of daily new addresses of 8768, up 13.19% from its value day prior.