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Should You Buy NFT (NFT) Thursday?

Thursday, October 06, 2022 06:54 PM | InvestorsObserver Analysts
Should You Buy NFT (NFT) Thursday?

NFT receives a strong short-term technical score of 76 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. NFT holds a better recent technical analysis than 76% 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.

Short-Term Technical - 76
InvestorsObserver is giving NFT a 76 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on NFT!

Trading Analysis

NFT is $0.000000 (13.60%) above its 30-day low of $0.000000491 while $0.000000 (-5.84%) below its 30-day high of $0.00000059. In addition, NFT's current price of $0.000000557 is above its 30-day moving average price of $0.000000542, leading to a strong short-term technical score. Overall the recent trading history of NFT suggest that investors are bullish on the token at the moment.
NFT has a low market cap compared to the majority of tokens with a total market value of $20.54. NFT'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. NFT's average volume is low as $5,251,225.48 worth of the token is typically traded over a 24 hour period. NFT'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 NFT's volume is below its average with $792,614.56 exchanged. NFT's subclass Art, Collectibles and Non-Fungible Tokens: Non-fungible tokens (NFTs) are units of data stored on a digital ledger that use blockchain technology to authenticate and verify ownership. They often take the form of photos, videos, audio, and other representations of real-world items. This category also includes other tokens that are used in the buying, selling or collecting of art or certain other digital goods.


NFT's price movement over the past month has led to a a strong short-term technical score due to recent trading giving more bullish signals for traders on the token's short-term movement. Click Here to get the full Report on NFT (NFT).

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