Is SugarBounce (TIP) Heading the Wrong Direction Thursday?

Thursday, May 04, 2023 12:28 PM | InvestorsObserver Analysts

SugarBounce receives a weak short-term technical score of 16 from InvestorsObserver analysis. Our proprietary scoring system considers the recent trading patterns of the token by looking at the price movement to determine if it is trending in the right direction. TIP holds a better recent technical analysis than 16% of tokens at its current price. Investors who are focused on short-term growth and looking for hot and trendy coins will find the Short-Term Rank especially relevant when allocating their assets.

InvestorsObserver is giving SugarBounce a 16 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on SugarBounce!
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Trading Analysis

TIP is currently $0.000000 (0.00%) above its 30-day low of $0.006304677 and -$0.007146 (-53.13%) below its 30-day high of $0.01345064. Additionally, TIP is under its average price of $0.010182493 over the past month of trading with its current price of $0.006304677. Overall, the recent trading history of SugarBounce suggest that traders are currently bearish on the token.
TIP has a low market cap compared to the majority of tokens with a total market value of $88,442.96. SugarBounce's relatively low market value comes as it sits under $100 million while the top 100 cryptos remain above $1 billion in market cap and the top 500 sit above $100 million. SugarBounce's average volume is low as $222,267.25 worth of the token is typically traded over a 24 hour period. TIP's volume is relatively low as the most traded 100 cryptos typically have $100 million exchanged each day and smaller cryptos tend to sit under $5 million traded over 24 hours. Over the past 24 hours TIP's volume is below its average with $36,249.07 exchanged.

Summary

TIP's recent trading over the past month give it a weak short-term technical score as its recent price movement give traders reason to be more bearish on the token in the short-term. Click Here to get the full Report on SugarBounce (TIP).

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