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Bytecoin (BCN): How Does the Chart Look Friday?

Friday, September 02, 2022 04:00 PM | InvestorsObserver Analysts
Bytecoin (BCN): How Does the Chart Look Friday?

InvestorsObserver gives Bytecoin a weak short-term technical score of 11 from its analysis. The proprietary scoring system considers the coin's trading history over the past month to determine the strength of its short-term technicals. BCN has currently traded better than 11% of coins based on these metrics. Investors focused on healthy recent trading patterns should find the short-term technical ranking system more relevant when making investment decisions.

Short-Term Technical - 11
InvestorsObserver is giving Bytecoin a 11 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Bytecoin!

Trading Analysis

Bytecoin is $0.000006 (22.59%) above its 30-day low of $0.000027701 while -$0.000058 (-62.96%) below its 30-day high of $0.00009167. In addition, BCN's current price of $0.000033960 is under its 30-day moving average price of $0.000058574, leading to a weak short-term technical score. Overall the recent trading history of Bytecoin suggest that investors are bearish on the coin at the moment.
Bytecoin's market cap of $6,250,993.55 is relatively average for a coin. The market valuation for Bytecoin is relatively average due to the largest 100 cryptos having a market cap above $1 billion and BCN sits underneath that mark but remains above $100 million in market capilization. Meanwhile, BCN's average volume is average with $425,568.29 worth of the coin traded over an average 24 hour period. The volume for BCN is relatively average as the most traded 100 cryptos have roughly $100 million worth of the crypto exchanged over a 24 hour period and a large portion of the market trades at least $5 million worth each day. Over the last 24 hours, BCN's volume is below its usual with $59,622.80 exchanged. Bytecoin's subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.

Summary

Bytecoin's price movement over the past month has led to a a weak short-term technical score due to recent trading giving more bearish signals for traders on the coin's short-term movement. Click Here to get the full Report on Bytecoin (BCN).

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