Is Smaug’s NFT (SMG) trending lower or higher Saturday?
Smaug’s NFT is given a weak short-term technical rating of 13 from InvestorsObserver data analysis. The proprietary rating system focuses on recent trading patterns over the past month to determine the strength of its short-term technical characteristics. SMG has a superior fresh technical analysis than 13% of tokens based on these trading metrics. Investors who primarily focus on short-term investment strategies will find this technical analysis most relevant to their goals when deciding whether to invest in a particular crypto.
Trade analysis
Smaug’s NFT is $0.000261 (54.49%) higher than its 30-day low of $0.000479381, while also -$0.002548 (-77.48%) lower than its last high of $0.00328910 month of trading. Meanwhile, SMG’s current price of $0.000740605 is below the $0.000815272 average price set over the past month of trading, leading to a weak short-term technical score. In summary, the recent trading history of Smaug’s NFT suggests that traders are currently bearish on the token. Smaug’s NFT’s market cap of $25,921.17 is relatively low for a token. Smaug’s NFT’s relatively low market cap comes as it sits below $100 million, while the top 100 cryptos remain over $1 billion in market cap and the top 500 are over $100 million. Meanwhile, SMG’s average volume is low with $5,498.76 worth of the token traded over an average 24 hour period. SMG’s volume is relatively low as the top 100 cryptos typically have $100 million traded each day and smaller cryptos tend to sit below $5 million traded over 24 hours. In the last 24 hours, SMG’s volume is below normal with $797.92 traded. Smaug’s NFTs subclass Art, Collectibles and Non-Fungible Tokens: Non-fungible tokens (NFTs) are units of data stored on a digital ledger that uses blockchain technology to authenticate and verify ownership. They often take the form of images, videos, audio, and other representations of real-world objects. This category also includes other tokens used to buy, sell or collect art or certain other digital goods.
Summary
Smaug’s NFT’s price movement over the past month has led to a weak short-term technical score due to recent trading that provides more bearish signals for traders about the token’s short-term movement. Click here for the full report on Smaug’s NFT (SMG).
