Tether (USDT): How Does the Chart Look Thursday?

Thursday, September 22, 2022 08:06 AM | InvestorsObserver Analysts

InvestorsObserver gives Tether an average long-term technical score of 48 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. USDT at this time has a superior long-term technical analysis score than 48% 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.

InvestorsObserver is giving Tether a 48 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Tether!

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Trading Analysis

Tether's price is $0.0000000 (0.03%) above its 100-day moving average price of $1.000000000 as its price at the moment sits at $1.000000000. Additionally, USDT is $0.0500000 (-1054.31%) higher than its 52-week low price of $0.950000000 while -$0.03000000 (-871.23%) under its 52-week high of $1.030000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives USDT an average long-term technical score of 48. Long-term trading movement of Tether suggest that investors are bearish on the token at the moment. Tether has a market capitalization of $67,972,415,485.47 and a relatively high average daily volume with $501,373,375,413.12 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, USDT's volume is below its seven day average with 68,184,559,963.99 exchanged. 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

Technical analysis of Tether over the past year results in the crypto receiving a an average long-term technical score of 48 as its price movement in that time has given traders reason to be bearish on the token in the long-term. Click Here to get the full Report on Tether (USDT).