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Should You Buy ReddCoin (RDD) Saturday?

Saturday, August 20, 2022 09:10 AM | InvestorsObserver Analysts
Should You Buy ReddCoin (RDD) Saturday?

InvestorsObserver gives ReddCoin a weak short-term technical score of 22 from its analysis. The proprietary scoring system considers the coin's trading history over the past month to determine the strength of its short-term technicals. RDD has currently traded better than 22% of coins based on these metrics. Investors focused on healthy recent trading patterns should find the short-term technical ranking system more relevant when making investment decisions.

Short-Term Technical - 22
InvestorsObserver is giving ReddCoin a 22 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on ReddCoin!

Trading Analysis

ReddCoin is $0.000111 (53.18%) higher than its 30-day low price of $0.000209348 while also -$0.000398 (-55.39%) lower than its high of $0.00071889 from the past month of trading. Meanwhile, RDD's current price of $0.000320682 is under its average price of $0.000400967 set over the past month of trading, leading to a weak short-term technical score. In summation, the recent trading history of ReddCoin suggest that traders are currently bearish on the coin.
ReddCoin's market cap of $9,747,858.42 is relatively average for a coin. 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. Meanwhile, RDD's average volume is average with $41,032.27 worth of the coin traded over an average 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 last 24 hours, RDD's volume is below its usual with $5,921.99 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

ReddCoin's trading over the past 30 days leads to its a weak short-term technical score due to recent price movement suggesting more bearish signals for traders on the coin in the near future. Click Here to get the full Report on ReddCoin (RDD).

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