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Is Bionic (BNC) Heading the Right Direction Thursday?

Thursday, January 13, 2022 02:19 PM | InvestorsObserver Analysts
Is Bionic (BNC) Heading the Right Direction Thursday?

Bionic receives a weak short-term technical ranking of 1 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. BNC has a superior recent technical analysis than 1% 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.

Short-Term Technical - 1
InvestorsObserver is giving Bionic a 1 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Bionic!

Trading Analysis

Bionic is $0.000006 (17.76%) above its 30-day low of $0.000034915 while -$0.000047 (-53.22%) below its 30-day high of $0.00008789. In addition, BNC's current price of $0.000041115 is under its 30-day moving average price of $0.000053491, leading to a weak short-term technical score. Overall the recent trading history of Bionic suggest that investors are bearish on the token at the moment. BNC has a relatively low market cap for a token with a total market value of $21,335.93. Bionic'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. Bionic's average volume meanwhile is low with $144.16 worth of the token traded over a typical 24 hour period. BNC'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, BNC's volume is below its average with $19.85 exchanged.

Summary

BNC'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 Bionic (BNC).

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