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What do the Short-Term Technicals Predict for ReddCoin (RDD) Friday?

Friday, August 26, 2022 09:47 AM | InvestorsObserver Analysts
What do the Short-Term Technicals Predict for ReddCoin (RDD) Friday?

InvestorsObserver gives ReddCoin a weak short-term technical score of 7 from its analysis. The proprietary scoring system considers the coin's trading history over the past month to determine the strength of its short-term technicals. RDD has currently traded better than 7% of coins 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 - 7
InvestorsObserver is giving ReddCoin a 7 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on ReddCoin!

Trading Analysis

ReddCoin is $0.000008 (3.82%) above its 30-day low of $0.000209348 while -$0.000502 (-69.77%) below its 30-day high of $0.00071889. In addition, RDD's current price of $0.000217337 is under its 30-day moving average price of $0.000386743, leading to a weak short-term technical score. Overall the recent trading history of ReddCoin suggest that investors are bearish on the coin at the moment.
ReddCoin's market cap of $6,606,453.96 is relatively average for a coin. The market valuation for ReddCoin is relatively average due to the largest 100 cryptos having a market cap above $1 billion and RDD sits underneath that mark but remains above $100 million in market capilization. Meanwhile, RDD's average volume is average with $65,857.77 worth of the coin traded over an average 24 hour period. The volume for RDD is relatively average as the most traded 100 cryptos have roughly $100 million worth of the crypto exchanged over a 24 hour period and a large portion of the market trades at least $5 million worth each day. Over the last 24 hours, RDD's volume is below its usual with $8,960.29 exchanged. ReddCoin's subclass Content: Crypto projects with a focus on producing additional content for users invested into the underlying ecosystem. Content creators can use blockchain technology distribute content to a group of subscribers or investors.

Summary

RDD's recent trading over the past month give it a weak short-term technical score as its recent price movement give traders reason to be more bearish on the coin in the short-term. Click Here to get the full Report on ReddCoin (RDD).

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