What do short-term technicals predict for NFT (NFT) Thursday?
InvestorsObserver gives NFT a weak short-term technical score of 11 from its analysis. The proprietary scoring system assesses the token’s trading history over the past month to determine the strength of short-term technical characteristics. NFT has currently traded better than 11% of tokens based on these metrics. Investors who focus on healthy recent trading patterns should find the short-term technical rating system more relevant when making investment decisions.
Trade analysis
NFT is $0.000000 (3.03%) above the 30 day low of $0.000000540, while $0.000000 (-14.85%) below the 30 day high of $0.00000065. Additionally, NFT’s current price of $0.000000557 is below its 30-day moving average price of $0.000000587, leading to a weak short-term technical score. Overall, the recent trading history of NFT suggests that investors are bearish on the token at the moment. NFT has a relatively low market cap for a token with a total market cap of $20.53. 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. NFT’s average volume, meanwhile, is low with $5,158,066.58 worth of the token traded over a typical 24-hour period. NFT’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, NFT’s volume is below average with $729,449.55 exchanged. NFTs subclass Art, Collectibles and Non-Fungible Tokens: Non-fungible tokens (NFTs) are units of data stored on a digital ledger that use 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
NFT’s recent trade over the past month gives it a weak short-term technical score as the recent price movement gives traders reason to be more bearish on the token in the near term. Click here to get the full report on NFT (NFT).
