Is Veles (VLS) Heading the Wrong Direction Monday?

Monday, January 31, 2022 01:27 PM | InvestorsObserver Analysts

InvestorsObserver gives Veles a strong short-term technical score of 78 from its analysis. The proprietary scoring system considers the coin's trading history over the past month to determine the strength of its short-term technicals. VLS has currently traded better than 78% of coins 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 Veles a 78 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Veles!

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Trading Analysis

Veles is $0.026472 (310.00%) higher than its 30-day low price of $0.008539388 while also -$0.030917 (-46.90%) lower than its high of $0.06592833 from the past month of trading. Meanwhile, VLS's current price of $0.035011189 is above its average price of $0.033256624 set over the past month of trading, leading to a strong short-term technical score. In summation, the recent trading history of Veles suggest that traders are currently bullish on the coin. VLS has a relatively low market cap for a coin with a total market value of $45,159.72. Veles'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. Veles's average volume meanwhile is low with $60.11 worth of the coin traded over a typical 24 hour period. VLS'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, VLS's volume is below its average with $9.35 exchanged.

Summary

VLS's recent trading over the past month give it a strong short-term technical score as its recent price movement give traders reason to be more bullish on the coin in the short-term. Click Here to get the full Report on Veles (VLS).