What do the Short-Term Technicals Predict for Hermes Defi (IRIS) Wednesday?

Wednesday, April 05, 2023 11:54 AM | InvestorsObserver Analysts

Hermes Defi receives a weak short-term technical ranking of 27 from InvestorsObserver data analysis. The proprietary ranking system focuses on the recent trading patters over the past month to determine the strength of its short-term technicals. IRIS has a superior recent technical analysis than 27% of tokens based on these trading metrics. Investors primarily focused on shorter term investment strategies will find this technical analysis most relevant to their goals when determining whether to invest in a particular crypto.

InvestorsObserver is giving Hermes Defi a 27 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Hermes Defi!
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Trading Analysis

IRIS is currently $0.001742 (16.26%) above its 30-day low of $0.010712952 and -$0.004088 (-24.71%) below its 30-day high of $0.01654306. Additionally, IRIS is under its average price of $0.012669551 over the past month of trading with its current price of $0.012454658. Overall, the recent trading history of Hermes Defi suggest that traders are currently bearish on the token.
IRIS has a low market cap compared to the majority of tokens with a total market value of $0.00. Hermes Defi'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. Hermes Defi's average volume is low as $12.03 worth of the token is typically traded over a 24 hour period. IRIS'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 IRIS's volume is below its average with $1.74 exchanged.

Summary

IRIS'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 Hermes Defi (IRIS).

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