DeFi Bids (BID) What Does the Chart Say Monday?

Monday, January 17, 2022 08:00 AM | InvestorsObserver Analysts

DeFi Bids receives a weak short-term technical ranking of 29 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. BID has a superior recent technical analysis than 29% 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 DeFi Bids a 29 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

BID is currently $0.002816 (35.14%) above its 30-day low of $0.008011926 and -$0.009179 (-45.88%) below its 30-day high of $0.02000634. Additionally, BID is under its average price of $0.012683470 over the past month of trading with its current price of $0.010827572. Overall, the recent trading history of DeFi Bids suggest that traders are currently bearish on the token. DeFi Bids's market cap of $265,681.45 is relatively low for a token. 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. Meanwhile, BID's average volume is low with $4,648.01 worth of the token traded over an average 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 last 24 hours, BID's volume is below its usual with $624.97 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 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 DeFi Bids (BID).