Is Bitgear (GEAR) Heading the Wrong Direction Wednesday?

Wednesday, January 19, 2022 01:34 PM | InvestorsObserver Analysts

InvestorsObserver gives Bitgear a strong short-term technical score of 81 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. GEAR has currently traded better than 81% 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 Bitgear a 81 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Bitgear!

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Trading Analysis

Bitgear is $0.003302 (40.75%) above its 30-day low of $0.008102677 while -$0.013602 (-54.39%) below its 30-day high of $0.02500629. In addition, GEAR's current price of $0.011404625 is under its 30-day moving average price of $0.013246007, leading to a strong short-term technical score. Overall the recent trading history of Bitgear suggest that investors are bullish on the token at the moment. GEAR has a low market cap compared to the majority of tokens with a total market value of $807,408.44. Bitgear'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. Bitgear's average volume is low as $291,440.48 worth of the token is typically traded over a 24 hour period. GEAR'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 GEAR's volume is below its average with $39,419.25 exchanged.

Summary

GEAR's recent trading over the past month give it a strong short-term technical score as its recent price movement give traders reason to be more bullish on the token in the short-term. Click Here to get the full Report on Bitgear (GEAR).