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Novacoin (NVC): How Does the Chart Look Wednesday?

Wednesday, June 22, 2022 01:58 PM | InvestorsObserver Analysts
Novacoin (NVC): How Does the Chart Look Wednesday?

InvestorsObserver gives Novacoin a weak short-term technical score of 3 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. NVC has currently traded better than 3% 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.

Short-Term Technical - 3
InvestorsObserver is giving Novacoin a 3 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Novacoin!

Trading Analysis

Novacoin is $0.003622 (55.62%) above its 30-day low of $0.006512075 while -$0.021936 (-68.40%) below its 30-day high of $0.03207072. In addition, NVC's current price of $0.010134303 is under its 30-day moving average price of $0.019542505, leading to a weak short-term technical score. Overall the recent trading history of Novacoin suggest that investors are bearish on the coin at the moment.
Novacoin's market cap of $23,671.27 is relatively low for a coin. Novacoin'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, NVC's average volume is low with $1,434.49 worth of the coin traded over an average 24 hour period. NVC'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, NVC's volume is below its usual with $190.66 exchanged.

Summary

Novacoin'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 coin in the near future. Click Here to get the full Report on Novacoin (NVC).

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