Is Dai (DAI) Trending Lower or Higher Saturday?

Saturday, July 30, 2022 06:11 AM | InvestorsObserver Analysts

InvestorsObserver gives Dai a weak long-term technical score of 29 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. DAI at this time has a superior long-term technical analysis score than 29% 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 Dai a 29 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Dai!

See Full Report

Trading Analysis

DAI is currently $0.0000000 (-0.11%) below its 100-day moving average price of $1.000000000 with its current price of $1.000000000. Meanwhile, Dai is $0.0100000 (-1015.77%) above its 52-week low price of $0.980000000 and -$2.67000000 (-245.37%) below its 52-week high of $3.670000000. The current price relative to its moving average and 52-week high and low leads to an average long-term technical score of 29. Trends for the long-term trading history of Dai suggest that traders are currently bearish on the token. Dai has a market capitalization of $7,477,639,041.26 and a relatively high average daily volume with $8,344,177,984.94 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, DAI's volume is below its seven day average with 582,772,781.62 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 Dai leads to the token's a weak long-term technical score of 29 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 Dai (DAI).