Is Bitspawn (SPWN) Trending Lower or Higher Thursday?

Thursday, March 28, 2024 11:35 AM | InvestorsObserver Analysts

Bitspawn receives a weak long-term technical score of 3 from InvestorsObserver's research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the token's support and resistance levels, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. SPWN currently holds a superior long-term technical analysis score than 3% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. tokens with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to 'buy the dip'.

InvestorsObserver is giving Bitspawn a 3 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Bitspawn!

See Full Report

Trading Analysis

SPWN is currently -$0.0001705 (-71.20%) below its 100-day moving average price of $0.000239443 with its current price of $0.000068959. Meanwhile, Bitspawn is $0.0000596 (-117072538.82%) above its 52-week low price of $0.000009396 and -$0.00213758 (-453196.06%) below its 52-week high of $0.002206535. The current price relative to its moving average and 52-week high and low leads to an average long-term technical score of 3. Trends for the long-term trading history of Bitspawn suggest that traders are currently bearish on the token. Bitspawn has a total market value of $35,453.17 with an low average daily volume of $27,428.45 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, SPWN's volume is below its average with $4,006.80 exchanged in total. This token's subclass Gaming: Gaming crytpocurrencies are similar to rewards or items in traditional games, but are decentralized and exist on the blockchain which allows users to own the items they acquire in-game, such as XP, weapons, and skins that can be traded with other uses. This subclass also includes tokens used in gambling and other forms of entertainment.

Summary

SPWN's historical trading over the past year gives it a a weak long-term technical score of 3 as its price movement in that time has given investors reason to be bearish on the token in the long-term. Click Here to get the full Report on Bitspawn (SPWN).