What do the Short-Term Technicals Predict for Iridium (IRD) Thursday?

Thursday, February 10, 2022 06:01 PM | InvestorsObserver Analysts

Iridium receives a weak short-term technical ranking of 14 from InvestorsObserver data analysis. The proprietary ranking system focuses on the recent trading patters over the past month to determine the strength of its short-term technicals. IRD has a superior recent technical analysis than 14% of coins based on these trading metrics. Investors primarily focused on shorter term investment strategies will find this technical analysis most relevant to their goals when determining whether to invest in a particular crypto.

InvestorsObserver is giving Iridium a 14 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Iridium!

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Trading Analysis

Iridium is $0.003865 (38.75%) higher than its 30-day low price of $0.009973237 while also -$0.009442 (-40.56%) lower than its high of $0.02328054 from the past month of trading. Meanwhile, IRD's current price of $0.013838283 is under its average price of $0.015227640 set over the past month of trading, leading to a weak short-term technical score. In summation, the recent trading history of Iridium suggest that traders are currently bearish on the coin. Iridium's market cap of $329,627.57 is relatively low for a coin. Iridium's relatively low market value comes as it sits under $100 million while the top 100 cryptos remain above $1 billion in market cap and the top 500 sit above $100 million. Meanwhile, IRD's average volume is low with $7,284.99 worth of the coin traded over an average 24 hour period. IRD's volume is relatively low as the most traded 100 cryptos typically have $100 million exchanged each day and smaller cryptos tend to sit under $5 million traded over 24 hours. Over the last 24 hours, IRD's volume is below its usual with $1,129.23 exchanged. Iridium's subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.

Summary

Iridium's trading over the past 30 days leads to its a weak short-term technical score due to recent price movement suggesting more bearish signals for traders on the coin in the near future. Click Here to get the full Report on Iridium (IRD).