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Is DMarket (DMT) Heading the Wrong Direction Wednesday?

Wednesday, December 22, 2021 08:37 AM | InvestorsObserver Analysts
Is DMarket (DMT) Heading the Wrong Direction Wednesday?

DMarket receives a weak short-term technical ranking of 10 from InvestorsObserver data analysis. The proprietary ranking system focuses on the recent trading patters over the past month to determine the strength of its short-term technicals. DMT has a superior recent technical analysis than 10% of tokens based on these trading metrics. Investors primarily focused on shorter term investment strategies will find this technical analysis most relevant to their goals when determining whether to invest in a particular crypto.

Short-Term Technical - 10
InvestorsObserver is giving DMarket a 10 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on DMarket!

Trading Analysis

DMarket is $0.001246 (11.66%) higher than its 30-day low price of $0.010689728 while also -$0.011355 (-48.75%) lower than its high of $0.02329083 from the past month of trading. Meanwhile, DMT's current price of $0.011936213 is under than its average price of $0.018205473 set over the past month of trading, leading to a weak short-term technical score. In summation, the recent trading history of DMarket suggest that traders are currently bearish on the token. DMarket's market cap of $679,430.42 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 $2,665.06 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 $229.77 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 weak short-term technical score due to recent trading giving more bearish signals for traders on the token's short-term movement. Click Here to get the full Report on DMarket (DMT).

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