Is DeFi Bids (BID) Trending Lower or Higher Wednesday?

Wednesday, August 17, 2022 08:11 PM | InvestorsObserver Analysts

DeFi Bids receives a weak short-term technical score of 9 from InvestorsObserver analysis. Our proprietary scoring system considers the recent trading patterns of the token by looking at the price movement to determine if it is trending in the right direction. BID holds a better recent technical analysis than 9% of tokens 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 DeFi Bids a 9 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on DeFi Bids!

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Trading Analysis

DeFi Bids is $0.008291 (997.64%) higher than its 30-day low price of $0.000831019 while also -$0.004385 (-32.47%) lower than its high of $0.01350686 from the past month of trading. Meanwhile, BID's current price of $0.009121577 is above its average price of $0.007861716 set over the past month of trading, leading to a weak short-term technical score. In summation, the recent trading history of DeFi Bids suggest that traders are currently bearish on the token. BID has a relatively low market cap for a token with a total market value of $209,382.11. DeFi Bids'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. DeFi Bids's average volume meanwhile is low with $1,673.78 worth of the token traded over a typical 24 hour period. BID'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, BID's volume is below its average with $263.50 exchanged. DeFi Bids's subclass Art, Collectibles and Non-Fungible Tokens: Non-fungible tokens (NFTs) are units of data stored on a digital ledger that use blockchain technology to authenticate and verify ownership. They often take the form of photos, videos, audio, and other representations of real-world items. This category also includes other tokens that are used in the buying, selling or collecting of art or certain other digital goods.

Summary

DeFi Bids's trading over the past 30 days leads to its a weak short-term technical score due to recent price movement suggesting more bearish signals for traders on the token in the near future. Click Here to get the full Report on DeFi Bids (BID).