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ReddCoin (RDD): Does it Score Well on Short-Term Trading Metrics Tuesday?

Tuesday, July 12, 2022 01:13 PM | InvestorsObserver Analysts
ReddCoin (RDD): Does it Score Well on Short-Term Trading Metrics Tuesday?

ReddCoin receives a weak short-term technical ranking of 8 from InvestorsObserver data analysis. The proprietary ranking system focuses on the recent trading patters over the past month to determine the strength of its short-term technicals. RDD has a superior recent technical analysis than 8% of coins based on these trading metrics. Investors primarily focused on shorter term investment strategies will find this technical analysis most relevant to their goals when determining whether to invest in a particular crypto.

Short-Term Technical - 8
InvestorsObserver is giving ReddCoin a 8 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on ReddCoin!

Trading Analysis

ReddCoin is $0.000015 (8.45%) above its 30-day low of $0.000183214 while -$0.000553 (-73.57%) below its 30-day high of $0.00075176. In addition, RDD's current price of $0.000198694 is under its 30-day moving average price of $0.000383767, leading to a weak short-term technical score. Overall the recent trading history of ReddCoin suggest that investors are bearish on the coin at the moment.
RDD has a average market cap compared to the majority of coins with a total market value of $6,039,767.50. The market valuation for ReddCoin is relatively average due to the largest 100 cryptos having a market cap above $1 billion and RDD sits underneath that mark but remains above $100 million in market capilization. ReddCoin's average volume is average as $52,169.14 worth of the coin is typically traded over a 24 hour period. The volume for RDD is relatively average as the most traded 100 cryptos have roughly $100 million worth of the crypto exchanged over a 24 hour period and a large portion of the market trades at least $5 million worth each day. Over the past 24 hours RDD's volume is below its average with $7,057.14 exchanged. ReddCoin's subclass Content: Crypto projects with a focus on producing additional content for users invested into the underlying ecosystem. Content creators can use blockchain technology distribute content to a group of subscribers or investors.

Summary

RDD's recent trading over the past month give it a weak short-term technical score as its recent price movement give traders reason to be more bearish on the coin in the short-term. Click Here to get the full Report on ReddCoin (RDD).

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