DMarket (DMT) What Does the Chart Say Thursday?

Thursday, July 14, 2022 09:11 AM | InvestorsObserver Analysts

DMarket receives a weak short-term technical ranking of 11 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. DMT has a superior recent technical analysis than 11% 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 DMarket a 11 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on DMarket!

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Trading Analysis

DMT is currently $0.001265 (55.02%) above its 30-day low of $0.002299498 and -$0.004574 (-56.20%) below its 30-day high of $0.00813926. Additionally, DMT is under its average price of $0.004465783 over the past month of trading with its current price of $0.003564763. Overall, the recent trading history of DMarket suggest that traders are currently bearish on the token. DMT has a relatively low market cap for a token with a total market value of $202,912.65. DMarket'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. DMarket's average volume meanwhile is low with $1,907.52 worth of the token traded over a typical 24 hour period. DMT'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, DMT's volume is below its average with $250.20 exchanged. DMarket'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

DMarket'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 token in the near future. Click Here to get the full Report on DMarket (DMT).