Is Wabi (WABI) Heading the Wrong Direction Monday?

Monday, March 27, 2023 03:52 PM | InvestorsObserver Analysts

Wabi receives a weak short-term technical score of 1 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. WABI holds a better recent technical analysis than 1% 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 Wabi a 1 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Wabi!

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Trading Analysis

Wabi is $0.002563 (71.01%) above its 30-day low of $0.003608926 while -$0.141108 (-95.81%) below its 30-day high of $0.14727929. In addition, WABI's current price of $0.006171751 is under its 30-day moving average price of $0.089268599, leading to a weak short-term technical score. Overall the recent trading history of Wabi suggest that investors are bearish on the token at the moment. WABI has a relatively low market cap for a token with a total market value of $617,175.06. Wabi'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. Wabi's average volume meanwhile is low with $2,188,620.27 worth of the token traded over a typical 24 hour period. WABI'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, WABI's volume is below its average with $1,934,369.35 exchanged. Wabi's subclass Payment Tokens: A token used as a form of payment for goods and services either in or outside of the crypto ecosystem. Often used as payment for services in a particular blockchain environment.

Summary

Wabi'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 Wabi (WABI).