Is Oxygen (OXY) Heading the Right Direction Thursday?

Thursday, March 28, 2024 07:49 AM | InvestorsObserver Analysts

InvestorsObserver gives Oxygen a weak short-term technical score of 11 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. OXY has currently traded better than 11% 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 Oxygen a 11 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Oxygen!

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Trading Analysis

OXY is currently $0.008873 (208.62%) above its 30-day low of $0.004253497 and -$0.141526 (-91.51%) below its 30-day high of $0.15465346. Additionally, OXY is under its average price of $0.030682339 over the past month of trading with its current price of $0.013126993. Overall, the recent trading history of Oxygen suggest that traders are currently bearish on the token. OXY has a relatively low market cap for a token with a total market value of $534,129.68. Oxygen'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. Oxygen's average volume meanwhile is low with $1,660,042.75 worth of the token traded over a typical 24 hour period. OXY'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. As of the past 24 hours, OXY's volume is below its average with $243,765.07 exchanged.

Summary

OXY's recent trading over the past month give it a weak short-term technical score as its recent price movement give traders reason to be more bearish on the token in the short-term. Click Here to get the full Report on Oxygen (OXY).