Is Jetcoin (JET) Heading the Wrong Direction Wednesday?

Wednesday, August 03, 2022 07:45 AM | InvestorsObserver Analysts

InvestorsObserver gives Jetcoin a weak short-term technical score of 28 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. JET has currently traded better than 28% 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 Jetcoin a 28 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Jetcoin!

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Trading Analysis

JET is currently $0.001477 (32.07%) above its 30-day low of $0.004606000 and -$0.004483 (-42.43%) below its 30-day high of $0.01056613. Additionally, JET is under its average price of $0.008971341 over the past month of trading with its current price of $0.006083140. Overall, the recent trading history of Jetcoin suggest that traders are currently bearish on the token. Jetcoin's market cap of $77,669.69 is relatively low for a token. Jetcoin'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, JET's average volume is low with $306,071.19 worth of the token traded over an average 24 hour period. JET'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, JET's volume is below its usual with $41,101.33 exchanged.

Summary

Jetcoin'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 Jetcoin (JET).