SINOVATE (SIN) What Does the Chart Say Sunday?

Sunday, October 16, 2022 08:06 AM | InvestorsObserver Analysts

SINOVATE receives a weak short-term technical ranking of 28 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. SIN has a superior recent technical analysis than 28% of coins 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 SINOVATE a 28 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on SINOVATE!

See Full Report

Trading Analysis

SINOVATE is $0.000208 (56.66%) above its 30-day low of $0.000366697 while -$0.000242 (-29.63%) below its 30-day high of $0.00081634. In addition, SIN's current price of $0.000574465 is under its 30-day moving average price of $0.000579050, leading to a weak short-term technical score. Overall the recent trading history of SINOVATE suggest that investors are bearish on the coin at the moment. SIN has a low market cap compared to the majority of coins with a total market value of $381,281.89. SINOVATE'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. SINOVATE's average volume is low as $5,692.20 worth of the coin is typically traded over a 24 hour period. SIN'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 SIN's volume is below its average with $848.69 exchanged.

Summary

SIN'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 SINOVATE (SIN).