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What do the Long-Term Technicals Predict for Parachute (PAR) Friday?

Friday, December 01, 2023 08:09 AM | InvestorsObserver Analysts
What do the Long-Term Technicals Predict for Parachute (PAR) Friday?

Parachute receives a weak long-term technical score of 8 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the token's consistency, volatility, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. Currently, PAR holds a superior long-term technical analysis score than 8% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover tokens that have bottomed out.

Long-Term Technical - 8
InvestorsObserver is giving Parachute a 8 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Parachute!

Trading Analysis

Parachute's price is $0.0000977 (28.66%) above its 100-day moving average price of $0.000340897 as its price at the moment sits at $0.000438614. Additionally, PAR is $0.0003306 (-10181421.45%) higher than its 52-week low price of $0.000108036 while -$0.00957163 (-99893.27%) under its 52-week high of $0.010010245. The current trading price in relation to its long-term average along with its 52-week high and low, gives PAR an average long-term technical score of 8. Long-term trading movement of Parachute suggest that investors are bearish on the token at the moment. Parachute currently has a total market cap of $438,451.08 to go along with its average daily volume of $565,356.42 worth of the currency over the past seven days. PAR's volume is below its seven day average as of the past 24 hours, with 83,833.54 exchanged in that period. This token's subclass Payment Tokens: A token used as a form of payment for goods and services either in or outside of the crypto ecosystem. Often used as payment for services in a particular blockchain environment.

Summary

PAR's historical trading over the past year gives it a a weak long-term technical score of 8 as its price movement in that time has given investors reason to be bearish on the token in the long-term. Click Here to get the full Report on Parachute (PAR).

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