Price to 200-Day Average

This ratio places the current price against a slow-moving average of its own recent history. A value above one means the last price is above that average and a value below one means it is beneath it. Because digital assets trade every calendar day, the two hundred observations here span roughly six and a half months.

How it is computed

price / mean(daily closing price over the trailing 200 days)

Where it misleads

The same label means different things across markets: two hundred trading days in equities covers about ten calendar months, while two hundred days here covers about six and a half, and the two are routinely compared as though identical. Assets younger than two hundred days have no valid value, yet some providers compute the mean over whatever history exists and publish a number that looks comparable but is not. The daily close is a provider convention, usually a snapshot at 00:00 UTC, with no closing auction behind it, so the average is convention-dependent. A moving average is a summary of past prices and has no forecasting content, whatever significance is attached to crossings of the line.

The equity comparison, and why it fails

The 200-day moving average used in equity technical analysis; the equity version counts exchange trading days and uses official closes, while this counts calendar days on a market that never closes.

Reading a high or a low value

A value above one means the last price sits above the average of the past two hundred days; a value below one means it sits beneath that average. The ratio describes the current price relative to its own recent history and nothing beyond that.