Should You Buy USD Coin (USDC) Friday?

Friday, August 26, 2022 06:36 PM | InvestorsObserver Analysts

USD Coin receives an average long-term technical score of 39 from InvestorsObserver's research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the token's support and resistance levels, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. USDC currently holds a superior long-term technical analysis score than 39% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. tokens with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to 'buy the dip'.

InvestorsObserver is giving USD Coin a 39 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on USD Coin!

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Trading Analysis

USD Coin's price is $0.0000000 (-0.01%) below its 100-day moving average price of $1.000000000 as its price at the moment sits at $1.000000000. Additionally, USDC is $0.0100000 (-1012.79%) higher than its 52-week low price of $0.990000000 while -$1.35000000 (-383.05%) under its 52-week high of $2.350000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives USDC an average long-term technical score of 39. Long-term trading movement of USD Coin suggest that investors are bearish on the token at the moment. USD Coin currently has a total market cap of $52,230,455,268.45 to go along with its average daily volume of $59,984,945,565.73 worth of the currency over the past seven days. USDC's volume is below its seven day average as of the past 24 hours, with 8,788,289,956.86 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 USD Coin leads to the token's an average long-term technical score of 39 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 USD Coin (USDC).