Should You Buy Coinsbit Token (CNB) Friday?

Friday, March 29, 2024 06:18 AM | InvestorsObserver Analysts

Coinsbit Token receives a weak short-term technical ranking of 5 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. CNB has a superior recent technical analysis than 5% 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 Coinsbit Token a 5 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Coinsbit Token!

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Trading Analysis

Coinsbit Token is $0.000042 (43.21%) above its 30-day low of $0.000097775 while -$0.000360 (-71.99%) below its 30-day high of $0.00049996. In addition, CNB's current price of $0.000140021 is under its 30-day moving average price of $0.000331134, leading to a weak short-term technical score. Overall the recent trading history of Coinsbit Token suggest that investors are bearish on the token at the moment. CNB has a low market cap compared to the majority of tokens with a total market value of $186,405.82. Coinsbit Token'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. Coinsbit Token's average volume is low as $1,413.43 worth of the token is typically traded over a 24 hour period. CNB'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 CNB's volume is below its average with $102.31 exchanged.

Summary

Coinsbit Token'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 token in the near future. Click Here to get the full Report on Coinsbit Token (CNB).