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Is Nexa (NEXA) Heading the Right Direction Wednesday?

Wednesday, February 28, 2024 12:57 PM | InvestorsObserver Analysts
Is Nexa (NEXA) Heading the Right Direction Wednesday?

Nexa receives a weak short-term technical ranking of 23 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. NEXA has a superior recent technical analysis than 23% of coins 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 - 23
InvestorsObserver is giving Nexa a 23 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Nexa!

Trading Analysis

NEXA is currently $0.000001 (24.79%) above its 30-day low of $0.000005474 and -$0.000002 (-20.75%) below its 30-day high of $0.00000862. Additionally, NEXA is above its average price of $0.000006812 over the past month of trading with its current price of $0.000006831. Overall, the recent trading history of Nexa suggest that traders are currently bearish on the coin.
NEXA has a average market cap compared to the majority of coins with a total market value of $15,378,883.77. The market valuation for Nexa is relatively average due to the largest 100 cryptos having a market cap above $1 billion and NEXA sits underneath that mark but remains above $100 million in market capilization. Nexa's average volume is average as $4,670,495.35 worth of the coin is typically traded over a 24 hour period. The volume for NEXA is relatively average as the most traded 100 cryptos have roughly $100 million worth of the crypto exchanged over a 24 hour period and a large portion of the market trades at least $5 million worth each day. Over the past 24 hours NEXA's volume is below its average with $675,681.14 exchanged. Nexa's subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.

Summary

Nexa'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 coin's short-term movement. Click Here to get the full Report on Nexa (NEXA).

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