Is MobileGo (MGO) Trending Lower or Higher Thursday?

Thursday, April 21, 2022 07:08 PM | InvestorsObserver Analysts

MobileGo receives a weak short-term technical score of 15 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. MGO holds a better recent technical analysis than 15% 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 MobileGo a 15 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on MobileGo!

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Trading Analysis

MGO is currently $0.000588 (13.00%) above its 30-day low of $0.004525981 and -$0.007887 (-60.66%) below its 30-day high of $0.01300125. Additionally, MGO is under its average price of $0.009271226 over the past month of trading with its current price of $0.005114143. Overall, the recent trading history of MobileGo suggest that traders are currently bearish on the token. MGO has a low market cap compared to the majority of tokens with a total market value of $511,398.37. MobileGo'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. MobileGo's average volume is low as $406,663.66 worth of the token is typically traded over a 24 hour period. MGO'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 past 24 hours MGO's volume is below its average with $56,656.82 exchanged. MobileGo's subclass Gaming: Gaming crytpocurrencies are similar to rewards or items in traditional games, but are decentralized and exist on the blockchain which allows users to own the items they acquire in-game, such as XP, weapons, and skins that can be traded with other uses. This subclass also includes tokens used in gambling and other forms of entertainment.

Summary

MobileGo'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 MobileGo (MGO).