DeepOnion (ONION) What Does the Chart Say Friday?

Friday, March 24, 2023 02:41 PM | InvestorsObserver Analysts

InvestorsObserver gives DeepOnion a weak short-term technical score of 22 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. ONION has currently traded better than 22% 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.

InvestorsObserver is giving DeepOnion a 22 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on DeepOnion!

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Trading Analysis

DeepOnion is $0.000129 (0.54%) higher than its 30-day low price of $0.023830259 while also -$0.047824 (-66.62%) lower than its high of $0.07178308 from the past month of trading. Meanwhile, ONION's current price of $0.023959497 is under its average price of $0.034071077 set over the past month of trading, leading to a weak short-term technical score. In summation, the recent trading history of DeepOnion suggest that traders are currently bearish on the coin. ONION has a relatively low market cap for a coin with a total market value of $548,885.01. DeepOnion'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. DeepOnion's average volume meanwhile is low with $3,891.37 worth of the coin traded over a typical 24 hour period. ONION'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. As of the past 24 hours, ONION's volume is below its average with $365.02 exchanged. DeepOnion'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

DeepOnion's trading over the past 30 days leads to its a weak short-term technical score due to recent price movement suggesting more bearish signals for traders on the coin in the near future. Click Here to get the full Report on DeepOnion (ONION).