Should You Buy Hydro Protocol (HOT) Friday?

Friday, August 05, 2022 07:08 PM | InvestorsObserver Analysts

Hydro Protocol receives a strong short-term technical score of 97 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. HOT holds a better recent technical analysis than 97% 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 Hydro Protocol a 97 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Hydro Protocol!

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Trading Analysis

HOT is currently $0.001255 (79.16%) above its 30-day low of $0.001585558 and -$0.000023 (-0.79%) below its 30-day high of $0.00286334. Additionally, HOT is above its average price of $0.001987213 over the past month of trading with its current price of $0.002840685. Overall, the recent trading history of Hydro Protocol suggest that traders are currently bullish on the token. HOT has a low market cap compared to the majority of tokens with a total market value of $1,994,160.96. Hydro Protocol'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. Hydro Protocol's average volume is low as $896,979.17 worth of the token is typically traded over a 24 hour period. HOT'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 HOT's volume is below its average with $145,650.35 exchanged.

Summary

Hydro Protocol's trading over the past 30 days leads to its a strong short-term technical score due to recent price movement suggesting more bullish signals for traders on the token in the near future. Click Here to get the full Report on Hydro Protocol (HOT).