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Should You Buy BitCoal (COAL) Wednesday?

Wednesday, February 02, 2022 07:45 AM | InvestorsObserver Analysts
Should You Buy BitCoal (COAL) Wednesday?

InvestorsObserver gives BitCoal an average short-term technical score of 66 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. COAL has currently traded better than 66% 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 - 66
InvestorsObserver is giving BitCoal a 66 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on BitCoal!

Trading Analysis

BitCoal is $0.000380 (16.38%) above its 30-day low of $0.002322884 while -$0.001621 (-37.49%) below its 30-day high of $0.00432452. In addition, COAL's current price of $0.002703288 is under its 30-day moving average price of $0.003227607, leading to an average short-term technical score. Overall the recent trading history of BitCoal suggest that investors are neutral on the coin at the moment. COAL has a relatively low market cap for a coin with a total market value of $12,164.79. BitCoal'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. BitCoal's average volume meanwhile is low with $30.75 worth of the coin traded over a typical 24 hour period. COAL'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, COAL's volume is below its average with $4.31 exchanged.

Summary

COAL's recent trading over the past month give it an average short-term technical score as its recent price movement give traders reason to be more neutral on the coin in the short-term. Click Here to get the full Report on BitCoal (COAL).

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