What do the short-term technicals predict for Smaug’s NFT (SMG) Monday?
Smaug’s NFT gets a strong short-term technical score of 100 from InvestorsObserver analysis. Our proprietary scoring system assesses the recent trading patterns of the token by looking at its price movement to determine if it is trending in the right direction. SMG has better recent technical analysis than 100% of tokens at current price. Investors focused on short-term growth and looking for hot and trendy coins will find short-term rankings particularly relevant when allocating their assets.
Trade analysis
Smaug’s NFT is $0.002458 (494.79%) higher than its 30-day low of $0.000496753, while also -$0.003258 (-52.44%) lower than its last high of $0.00621232 month of trading. Meanwhile, SMG’s current price of $0.002954650 is above the $0.001548366 average price set over the past month of trading, leading to a strong short-term technical score. In summary, the recent trading history of Smaug’s NFT suggests that traders are currently bullish on the token. SMG has a relatively low market cap for a token with a total market cap of $103,412.75. 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. Smaug’s NFT’s average volume, meanwhile, is low with $56.81 worth of the token traded over a typical 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 average with $18.46 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 objects from the real world. This category also includes other tokens used in the purchase, sale or collection of art or certain other digital goods.
Summary
Smaug’s NFT’s price movement over the past month has led to a strong short-term technical score due to recent trading providing more bullish signals for traders about the token’s short-term movement. Click here for the full report on Smaug’s NFT (SMG).
