NFT (NFT) What Does the Chart Say Sunday?

Sunday, September 25, 2022 08:02 PM | InvestorsObserver Analysts

InvestorsObserver gives NFT a weak short-term technical score of 31 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. NFT has currently traded better than 31% 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 NFT a 31 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 (1.58%) above its 30-day low of $0.000000518 and $0.000000 (-14.52%) below its 30-day high of $0.00000062. Additionally, NFT is under its average price of $0.000000567 over the past month of trading with its current price of $0.000000526. Overall, the recent trading history of NFT suggest that traders are currently bearish on the token. NFT has a low market cap compared to the majority of tokens with a total market value of $19.38. 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 is low as $5,090,822.54 worth of the token is typically traded over a 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. Over the past 24 hours NFT's volume is below its average with $711,490.66 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 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 NFT (NFT).