FYDcoin (FYD): Does it Score Well on Short-Term Trading Metrics Saturday?

Saturday, June 03, 2023 09:05 AM | InvestorsObserver Analysts

InvestorsObserver gives FYDcoin a weak short-term technical score of 6 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. FYD has currently traded better than 6% 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 FYDcoin a 6 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on FYDcoin!

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Trading Analysis

FYDcoin is $0.000137 (34.59%) above its 30-day low of $0.000396126 while -$0.001125 (-67.84%) below its 30-day high of $0.00165769. In addition, FYD's current price of $0.000533160 is under its 30-day moving average price of $0.001073419, leading to a weak short-term technical score. Overall the recent trading history of FYDcoin suggest that investors are bearish on the coin at the moment. FYDcoin's market cap of $338,569.89 is relatively low for a coin. FYDcoin'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, FYD's average volume is low with $980.43 worth of the coin traded over an average 24 hour period. FYD'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, FYD's volume is below its usual with $134.06 exchanged. FYDcoin'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

FYDcoin'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 FYDcoin (FYD).