Is SynchroBitcoin (SNB) Heading the Wrong Direction Saturday?

Saturday, January 29, 2022 12:09 PM | InvestorsObserver Analysts

InvestorsObserver gives SynchroBitcoin a weak short-term technical score of 4 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. SNB has currently traded better than 4% 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 SynchroBitcoin a 4 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on SynchroBitcoin!

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Trading Analysis

SynchroBitcoin is $0.007793 (67.37%) higher than its 30-day low price of $0.011566291 while also -$0.018868 (-49.36%) lower than its high of $0.03822711 from the past month of trading. Meanwhile, SNB's current price of $0.019358969 is under its average price of $0.023424564 set over the past month of trading, leading to a weak short-term technical score. In summation, the recent trading history of SynchroBitcoin suggest that traders are currently bearish on the token. SynchroBitcoin's market cap of $1,539,720.06 is relatively low for a token. SynchroBitcoin'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, SNB's average volume is low with $60.67 worth of the token traded over an average 24 hour period. SNB'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, SNB's volume is below its usual with $8.71 exchanged.

Summary

SynchroBitcoin's trading over the past 30 days leads to its a weak short-term technical score due to recent price movement suggesting more bearish signals for traders on the token in the near future. Click Here to get the full Report on SynchroBitcoin (SNB).