Dai’s technical score of 11 from InvestorsObserver analysis suggests that the token is a weak buy-and-hold investment at this time.
Dai’s recent price decline may be due to the overall weakness in the cryptocurrency markets, but its long-term prospects remain strong. Dai’s current price is still up by almost 50% from its January 2021 lows, and many investors believe that the token has significant upside potential in the years ahead.
Currently, DAI holds a superior long-term technical analysis score than 11% 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.
Trading Analysis
DAI is currently $0.0000000 (-0.04%) below its 100-day moving average price of $1.000000000 with its current price of $1.000000000. Meanwhile, Dai is $0.0200000 (-1015.70%) above its 52-week low price of $0.980000000 and -$2.67000000 (-245.35%) below its 52-week high of $3.670000000. The current price relative to its moving average and 52-week high and low leads to an average long-term technical score of 11. Trends for the long-term trading history of Dai suggest that traders are currently bearish on the token.
Dai has a total market value of $7,483,008,969.84 with an high average daily volume of $22,110,430,398.91 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, DAI’s volume is below its average with $3,296,285,524.06 exchanged in total.
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
DAI’s historical trading over the past year gives it a weak long-term technical score of 11 as its price movement in that time has given investors reason to be bearish on the token in the long term.
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