Is Binance USD (BUSD) Trending Lower or Higher Wednesday?

Wednesday, August 31, 2022 02:24 PM | InvestorsObserver Analysts

InvestorsObserver gives Binance USD a weak long-term technical score of 30 from its research. The proprietary scoring system take into account the historical trading patterns from recent months to a year of the token'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. BUSD at this time has a superior long-term technical analysis score than 30% 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 tokens that have bottomed out.

InvestorsObserver is giving Binance USD a 30 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Binance USD!

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Trading Analysis

The current trading price of $1.000000000 for BUSD is $0.0000000 (-0.02%) below the tokens 100-day moving average of $1.000000000. BUSD meanwhile is $0.0000000 (-1004.72%) above its 52-week low of $1.000000000 and -$0.02000000 (-878.30%) under its 52-week high price of $1.020000000. Binance USD's current price relative to the tokens long-term average and 52-week high and low, gives the crypto an average long-term technical score of 30. The price movement and range of BUSD suggest that investors are bearish on the token at this time. Binance USD has a market capitalization of $19,268,857,531.80 and a relatively high average daily volume with $49,940,411,944.47 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, BUSD's volume is below its seven day average with 7,576,890,158.97 exchanged. 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

Trading patterns over the last year for Binance USD leads to the token's a weak long-term technical score of 30 as its consistency, volatility, and relation to long-term averages has given investors reason to be bearish on the token. Click Here to get the full Report on Binance USD (BUSD).