Is Rainbow Token (RAINBOW) Heading the Wrong Direction Thursday?

Thursday, March 28, 2024 02:22 PM | InvestorsObserver Analysts

Rainbow Token receives a weak short-term technical score of 19 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. RAINBOW holds a better recent technical analysis than 19% 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 Rainbow Token a 19 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Rainbow Token!

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Trading Analysis

RAINBOW is currently $0.000000 (12.91%) above its 30-day low of $0.000000000 and $0.000000 (-55.36%) below its 30-day high of $0.00000000. Additionally, RAINBOW is under its average price of $0.000000000 over the past month of trading with its current price of $0.000000000. Overall, the recent trading history of Rainbow Token suggest that traders are currently bearish on the token. Rainbow Token's market cap of $230,725.56 is relatively low for a token. Rainbow Token'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, RAINBOW's average volume is low with $1,512.05 worth of the token traded over an average 24 hour period. RAINBOW'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, RAINBOW's volume is below its usual with $239.79 exchanged.

Summary

Rainbow Token'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 Rainbow Token (RAINBOW).