Is BitShares (BTS) Heading the Right Direction Thursday?

Thursday, July 07, 2022 06:19 AM | InvestorsObserver Analysts

BitShares receives a strong short-term technical score of 90 from InvestorsObserver analysis. Our proprietary scoring system considers the recent trading patterns of the coin by looking at the price movement to determine if it is trending in the right direction. BTS holds a better recent technical analysis than 90% of coins 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 BitShares a 90 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on BitShares!

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Trading Analysis

BitShares is $0.003399 (43.99%) higher than its 30-day low price of $0.007725921 while also -$0.002611 (-19.01%) lower than its high of $0.01373506 from the past month of trading. Meanwhile, BTS's current price of $0.011124467 is above its average price of $0.010209509 set over the past month of trading, leading to a strong short-term technical score. In summation, the recent trading history of BitShares suggest that traders are currently bullish on the coin. BTS has a relatively average market cap for a coin with a total market value of $33,312,771.42. The market valuation for BitShares is relatively average due to the largest 100 cryptos having a market cap above $1 billion and BTS sits underneath that mark but remains above $100 million in market capilization. BitShares's average volume meanwhile is average with $10,422,205.03 worth of the coin traded over a typical 24 hour period. The volume for BTS is relatively average as the most traded 100 cryptos have roughly $100 million worth of the crypto exchanged over a 24 hour period and a large portion of the market trades at least $5 million worth each day. As of the past 24 hours, BTS's volume is below its average with $2,431,821.89 exchanged. BitShares's subclass Decentralized Finance: DeFi, or decentralized finance, Coins are created as an alternative to traditional financial institutions. These tokens are designed to alleviate the needs for brokers, exchanges, and/or banks by offering traditional financial products or services without the need for a central authority through the use of smart contracts.

Summary

BTS'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 coin in the short-term. Click Here to get the full Report on BitShares (BTS).