Edgeless (EDG) What Does the Chart Say Monday?

Monday, August 01, 2022 07:47 AM | InvestorsObserver Analysts

Edgeless receives a weak short-term technical score of 13 from InvestorsObserver analysis. Our proprietary scoring system considers the recent trading patterns of the token by looking at the price movement to determine if it is trending in the right direction. EDG holds a better recent technical analysis than 13% of tokens at its current price. Investors who are focused on short-term growth and looking for hot and trendy coins will find the Short-Term Rank especially relevant when allocating their assets.

InvestorsObserver is giving Edgeless a 13 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Edgeless!

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Trading Analysis

Edgeless is $0.007249 (87.28%) above its 30-day low of $0.008305283 while -$0.009720 (-38.46%) below its 30-day high of $0.02527429. In addition, EDG's current price of $0.015554036 is under its 30-day moving average price of $0.019261131, leading to a weak short-term technical score. Overall the recent trading history of Edgeless suggest that investors are bearish on the token at the moment. EDG has a low market cap compared to the majority of tokens with a total market value of $1,899,878.28. Edgeless'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. Edgeless's average volume is low as $801.20 worth of the token is typically traded over a 24 hour period. EDG'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 EDG's volume is below its average with $790.38 exchanged. Edgeless's subclass Gaming: Gaming crytpocurrencies are similar to rewards or items in traditional games, but are decentralized and exist on the blockchain which allows users to own the items they acquire in-game, such as XP, weapons, and skins that can be traded with other uses. This subclass also includes tokens used in gambling and other forms of entertainment.

Summary

EDG'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 Edgeless (EDG).