What is a daily close & why is it important?

Looking at the daily close is a great way to stay up to date on the latest happenings in the markets and gauge how a particular cryptocurrency is performing compared to the day before.

What is a 'daily close' in cryptocurrency trading?

Though trading takes place all hours of the day, the way traders measure how a cryptocurrency is performing is through a daily 24 hour time frame, this is the “daily close.” At the end of a full day of trading (12:00 UTC), traders compare the price of a cryptocurrency to what its price was exactly 24 hours ago.

What is closing price?

Definition, How It's Used, and Example Definition, How It's Used, and Example What Is the Closing Price? The closing price is the raw price or cash value of the last transacted price in a security before the market officially closes for normal trading.

How do you plot the daily closing price of a stock?

On day two of trading, the stock's price was $35, resulting in a data point at (2, $35). Each data point would be plotted and connected by a line that visually shows the changes in the values of daily closing prices over time. If the closing prices of the stock increased daily, the line would slope upward and to the right.