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Should You Buy InsaneCoin (INSN) Friday?

Friday, February 04, 2022 12:20 PM | InvestorsObserver Analysts
Should You Buy InsaneCoin (INSN) Friday?

InsaneCoin receives a weak short-term technical score of 20 from InvestorsObserver analysis. Our proprietary scoring system considers the recent trading patterns of the coin by looking at the price movement to determine if it is trending in the right direction. INSN holds a better recent technical analysis than 20% of coins 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.

Short-Term Technical - 20
InvestorsObserver is giving InsaneCoin a 20 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on InsaneCoin!

Trading Analysis

InsaneCoin is $0.000802 (19.85%) above its 30-day low of $0.004038554 while -$0.003216 (-39.92%) below its 30-day high of $0.00805613. In addition, INSN's current price of $0.004840199 is under its 30-day moving average price of $0.006009857, leading to a weak short-term technical score. Overall the recent trading history of InsaneCoin suggest that investors are bearish on the coin at the moment. INSN has a low market cap compared to the majority of coins with a total market value of $125,974.59. InsaneCoin'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. InsaneCoin's average volume is low as $54.92 worth of the coin is typically traded over a 24 hour period. INSN'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 INSN's volume is below its average with $7.68 exchanged.

Summary

INSN'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 coin in the short-term. Click Here to get the full Report on InsaneCoin (INSN).

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