What do the Long-Term Technicals Predict for Tether (USDT) Wednesday?

Wednesday, August 03, 2022 06:56 AM | InvestorsObserver Analysts

InvestorsObserver gives Tether a strong long-term technical score of 93 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 93% 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 93 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

USDT is currently $0.0000000 (0.08%) above its 100-day moving average price of $1.000000000 with its current price of $1.000000000. Meanwhile, Tether is $0.0500000 (-1054.29%) above its 52-week low price of $0.950000000 and -$0.03000000 (-871.22%) below its 52-week high of $1.030000000. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 93. Trends for the long-term trading history of Tether suggest that traders are currently neutral on the token. Tether currently has a total market cap of $66,424,621,742.53 to go along with its average daily volume of $410,704,338,883.31 worth of the currency over the past seven days. USDT's volume is below its seven day average as of the past 24 hours, with 54,366,965,686.32 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

Technical analysis of Tether over the past year results in the crypto receiving a a strong long-term technical score of 93 as its price movement in that time has given traders reason to be neutral on the token in the long-term. Click Here to get the full Report on Tether (USDT).