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USD Coin (USDC): Does it Score Poorly on Short-Term Trading Metrics Saturday?

Saturday, December 04, 2021 06:35 AM | InvestorsObserver Analysts
USD Coin (USDC): Does it Score Poorly on Short-Term Trading Metrics Saturday?

InvestorsObserver gives USD Coin a strong short-term technical score of 74 from its analysis. The proprietary scoring system considers the token's trading history over the past month to determine the strength of its short-term technicals. USDC has currently traded better than 74% of tokens 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 - 74
InvestorsObserver is giving USD Coin a 74 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on USD Coin!

Trading Analysis

USD Coin is $0.00 (0.14%) higher than its 30-day low price of $1.00 while also -$1.35 (-57.46%) lower than its high of $2.35 from the past month of trading. Meanwhile, USDC's current price of $1.00 is under than its average price of $1.00 set over the past month of trading, leading to a strong short-term technical score. In summation, the recent trading history of USD Coin suggest that traders are currently bullish on the token. USDC has a high market cap compared to the majority of tokens with a total market value of $39,565,511,780.92. USD Coin's market value is relatively high since the largest 100 cryptos have a market cap above $1 billion and USDC meets that criteria. USD Coin's average volume is high as $50,493,781,278.52 worth of the token is typically traded over a 24 hour period. The cryptos volume is relatively high due to the most traded 100 cryptos typically having $100 million worth of the crypto traded over a 24 hour period. Over the past 24 hours USDC's volume is below its average with $9,923,120,945.44 exchanged. USD Coin'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

USD Coin's trading over the past 30 days leads to its a strong short-term technical score due to recent price movement suggesting more bullish signals for traders on the token in the near future. Click Here to get the full Report on USD Coin (USDC).

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