NFT (NFT): How Does the Chart Look Wednesday?

Wednesday, August 31, 2022 02:54 PM | InvestorsObserver Analysts

NFT receives an average short-term technical ranking of 55 from InvestorsObserver data analysis. The proprietary ranking system focuses on the recent trading patters over the past month to determine the strength of its short-term technicals. NFT has a superior recent technical analysis than 55% of tokens based on these trading metrics. Investors primarily focused on shorter term investment strategies will find this technical analysis most relevant to their goals when determining whether to invest in a particular crypto.

InvestorsObserver is giving NFT a 55 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on NFT!

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Trading Analysis

NFT is currently $0.000000 (3.03%) above its 30-day low of $0.000000563 and -$0.027081 (-100.00%) below its 30-day high of $0.02708127. Additionally, NFT is under its average price of $0.000000628 over the past month of trading with its current price of $0.000000580. Overall, the recent trading history of NFT suggest that traders are currently neutral on the token. NFT has a relatively low market cap for a token with a total market value of $21.38. NFT'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. NFT's average volume meanwhile is low with $1,783,414.53 worth of the token traded over a typical 24 hour period. NFT'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, NFT's volume is below its average with $265,422.55 exchanged. NFT'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

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