Is Smart MFG (MFG) Heading the Right Direction Friday?

Friday, May 19, 2023 06:13 AM | InvestorsObserver Analysts

Smart MFG receives a weak short-term technical score of 14 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. MFG holds a better recent technical analysis than 14% 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 Smart MFG a 14 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Smart MFG!

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Trading Analysis

Smart MFG is $0.000122 (12.05%) above its 30-day low of $0.001014200 while -$0.001967 (-63.38%) below its 30-day high of $0.00310314. In addition, MFG's current price of $0.001136447 is under its 30-day moving average price of $0.001975086, leading to a weak short-term technical score. Overall the recent trading history of Smart MFG suggest that investors are bearish on the token at the moment. Smart MFG's market cap of $423,155.75 is relatively low for a token. Smart MFG'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, MFG's average volume is low with $413.54 worth of the token traded over an average 24 hour period. MFG'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, MFG's volume is below its usual with $64.21 exchanged. Smart MFG's subclass Art, Collectibles and Non-Fungible Tokens: Non-fungible tokens (NFTs) are units of data stored on a digital ledger that use blockchain technology to authenticate and verify ownership. They often take the form of photos, videos, audio, and other representations of real-world items. This category also includes other tokens that are used in the buying, selling or collecting of art or certain other digital goods.

Summary

MFG'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 Smart MFG (MFG).