Is DMarket (DMT) Heading the Right Direction Tuesday?

Tuesday, May 31, 2022 07:41 AM | InvestorsObserver Analysts

InvestorsObserver gives DMarket a strong short-term technical score of 69 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. DMT has currently traded better than 69% 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 DMarket a 69 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on DMarket!

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Trading Analysis

DMT is currently $0.001951 (77.54%) above its 30-day low of $0.002515497 and -$0.007863 (-63.78%) below its 30-day high of $0.01232898. Additionally, DMT is under its average price of $0.006522903 over the past month of trading with its current price of $0.004466065. Overall, the recent trading history of DMarket suggest that traders are currently bullish on the token. DMarket's market cap of $254,216.34 is relatively low for a token. DMarket'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. Meanwhile, DMT's average volume is low with $1,981.38 worth of the token traded over an average 24 hour period. DMT'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 last 24 hours, DMT's volume is below its usual with $301.99 exchanged. DMarket'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

DMarket's price movement over the past month has led to a a strong short-term technical score due to recent trading giving more bullish signals for traders on the token's short-term movement. Click Here to get the full Report on DMarket (DMT).