SakeToken (SAKE) What Does the Chart Say Saturday?

Saturday, June 03, 2023 09:56 AM | InvestorsObserver Analysts

SakeToken receives a weak short-term technical score of 6 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. SAKE holds a better recent technical analysis than 6% 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 SakeToken a 6 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on SakeToken!

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Trading Analysis

SAKE is currently $0.000431 (41.72%) above its 30-day low of $0.001033571 and -$0.001325 (-47.49%) below its 30-day high of $0.00278953. Additionally, SAKE is under its average price of $0.001534774 over the past month of trading with its current price of $0.001464784. Overall, the recent trading history of SakeToken suggest that traders are currently bearish on the token. SAKE has a relatively low market cap for a token with a total market value of $149,206.36. SakeToken'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. SakeToken's average volume meanwhile is low with $695,360.20 worth of the token traded over a typical 24 hour period. SAKE'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, SAKE's volume is below its average with $101,044.11 exchanged. SakeToken's subclass Derivatives: Derivatives are contracts or financial tools that derive value from an underlying asset. Derivatives can be used to hedge against volatility and price swings or can be a tool for investors to speculate on the future price of the underlying asset. The most popular derivatives in the crypto market are futures, options, and perpetual contracts.

Summary

SAKE's recent trading over the past month give it a weak short-term technical score as its recent price movement give traders reason to be more bearish on the token in the short-term. Click Here to get the full Report on SakeToken (SAKE).