DeFi Bids (BID): Does it Score Poorly on Short-Term Trading Metrics Tuesday?

Tuesday, May 03, 2022 07:48 AM | InvestorsObserver Analysts

InvestorsObserver gives DeFi Bids a strong short-term technical score of 86 from its analysis. The proprietary scoring system considers the token's trading history over the past month to determine the strength of its short-term technicals. BID has currently traded better than 86% of tokens 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 DeFi Bids a 86 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on DeFi Bids!

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Trading Analysis

DeFi Bids is $0.006743 (59.93%) above its 30-day low of $0.011251030 while -$0.004803 (-21.07%) below its 30-day high of $0.02279690. In addition, BID's current price of $0.017993805 is above its 30-day moving average price of $0.014273197, leading to a strong short-term technical score. Overall the recent trading history of DeFi Bids suggest that investors are bullish on the token at the moment. BID has a low market cap compared to the majority of tokens with a total market value of $416,810.52. DeFi Bids'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. DeFi Bids's average volume is low as $4,268.22 worth of the token is typically traded over a 24 hour period. BID'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 BID's volume is below its average with $564.51 exchanged. DeFi Bids's subclass Art, Collectibles and Non-Fungible Tokens: Non-fungible tokens (NFTs) are units of data stored on a digital ledger that use blockchain technology to authenticate and verify ownership. They often take the form of photos, videos, audio, and other representations of real-world items. This category also includes other tokens that are used in the buying, selling or collecting of art or certain other digital goods.

Summary

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