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Should You Buy Binance USD (BUSD) Thursday?

Thursday, August 11, 2022 08:58 AM | InvestorsObserver Analysts
Should You Buy Binance USD (BUSD) Thursday?

InvestorsObserver gives Binance USD a weak long-term technical score of 24 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 24% 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.

Long-Term Technical - 24
InvestorsObserver is giving Binance USD a 24 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Binance USD!

Trading Analysis

Binance USD's price is $0.0000000 (-0.06%) below its 100-day moving average price of $1.000000000 as its price at the moment sits at $1.000000000. Additionally, BUSD is $0.0000000 (-1004.75%) higher than its 52-week low price of $1.000000000 while -$0.02000000 (-878.34%) under its 52-week high of $1.020000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives BUSD an average long-term technical score of 24. Long-term trading movement of Binance USD suggest that investors are bearish on the token at the moment. Binance USD currently has a total market cap of $17,802,836,394.65 to go along with its average daily volume of $60,220,751,652.58 worth of the currency over the past seven days. BUSD's volume is below its seven day average as of the past 24 hours, with 8,297,522,539.03 exchanged in that period. 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 24 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).

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