Is Acorn Protocol (ACN) Heading the Right Direction Wednesday?

Wednesday, March 27, 2024 08:02 PM | InvestorsObserver Analysts

InvestorsObserver gives Acorn Protocol a weak short-term technical score of 12 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. ACN has currently traded better than 12% 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 Acorn Protocol a 12 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Acorn Protocol!

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Trading Analysis

ACN is currently $0.000019 (41.29%) above its 30-day low of $0.000046641 and -$0.000110 (-62.53%) below its 30-day high of $0.00017586. Additionally, ACN is under its average price of $0.000069395 over the past month of trading with its current price of $0.000065900. Overall, the recent trading history of Acorn Protocol suggest that traders are currently bearish on the token. ACN has a low market cap compared to the majority of tokens with a total market value of $308,558.67. Acorn Protocol'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. Acorn Protocol's average volume is low as $268,958.86 worth of the token is typically traded over a 24 hour period. ACN'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 ACN's volume is below its average with $41,394.46 exchanged.

Summary

Acorn Protocol's price movement over the past month has led to a a weak short-term technical score due to recent trading giving more bearish signals for traders on the token's short-term movement. Click Here to get the full Report on Acorn Protocol (ACN).