Polkadot (DOT): Does it Score Poorly on Long-Term Trading Metrics Wednesday?

Wednesday, May 11, 2022 03:21 PM | InvestorsObserver Analysts

InvestorsObserver gives Polkadot a weak long-term technical score of 5 from its research. The proprietary scoring system take into account the historical trading patterns from recent months to a year of the coin'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. DOT at this time has a superior long-term technical analysis score than 5% 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 coins that have bottomed out.

InvestorsObserver is giving Polkadot a 5 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Polkadot!

See Full Report

Trading Analysis

The current trading price of $9.030000000 for DOT is -$9.4300000 (-51.09%) below the coins 100-day moving average of $18.460000000. DOT meanwhile is $0.5900000 (-23.35%) above its 52-week low of $8.440000000 and -$45.98000000 (-1.76%) under its 52-week high price of $55.000000000. Polkadot's current price relative to the coins long-term average and 52-week high and low, gives the crypto an average long-term technical score of 5. The price movement and range of DOT suggest that investors are bearish on the coin at this time. Polkadot has a market capitalization of $8,917,145,927.81 and a relatively high average daily volume with $13,750,965,388.00 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, DOT's volume is below its seven day average with 2,219,114,290.78 exchanged. 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 Polkadot over the past year results in the crypto receiving a a weak long-term technical score of 5 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 Polkadot (DOT).