Is DMarket (DMT) Heading the Right Direction Wednesday?

Wednesday, June 01, 2022 03:17 PM | InvestorsObserver Analysts

DMarket receives a weak long-term technical score of 19 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the token's consistency, volatility, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. Currently, DMT holds a superior long-term technical analysis score than 19% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover tokens that have bottomed out.

InvestorsObserver is giving DMarket a 19 Long-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

The current trading price of $0.002414498 for DMT is -$0.0071327 (-74.71%) below the tokens 100-day moving average of $0.009547158. DMT meanwhile is $0.0000054 (-456495.61%) above its 52-week low of $0.002409133 and -$0.81251493 (-1226.80%) under its 52-week high price of $0.814929426. DMarket's current price relative to the tokens long-term average and 52-week high and low, gives the crypto an average long-term technical score of 19. The price movement and range of DMT suggest that investors are bearish on the token at this time. DMarket has a total market value of $137,437.49 with an low average daily volume of $591.48 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, DMT's volume is below its average with $5.71 exchanged in total. This token'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

Technical analysis of DMarket over the past year results in the crypto receiving a a weak long-term technical score of 19 as its price movement in that time has given traders reason to be bearish on the token in the long-term. Click Here to get the full Report on DMarket (DMT).