SonoCoin (SONO) What Does the Chart Say Tuesday?

Tuesday, March 01, 2022 08:38 AM | InvestorsObserver Analysts

SonoCoin receives a weak short-term technical score of 4 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. SONO holds a better recent technical analysis than 4% 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.

InvestorsObserver is giving SonoCoin a 4 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on SonoCoin!

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Trading Analysis

SonoCoin is $0.007505 (60.45%) above its 30-day low of $0.012415912 while -$0.042621 (-68.15%) below its 30-day high of $0.06254215. In addition, SONO's current price of $0.019921003 is under its 30-day moving average price of $0.036101108, leading to a weak short-term technical score. Overall the recent trading history of SonoCoin suggest that investors are bearish on the coin at the moment. SONO has a low market cap compared to the majority of coins with a total market value of $562,776.44. SonoCoin'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. SonoCoin's average volume is low as $642,392.77 worth of the coin is typically traded over a 24 hour period. SONO'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 SONO's volume is below its average with $101,711.62 exchanged.

Summary

SonoCoin's price movement over the past month has led to a a weak short-term technical score due to recent trading giving more bearish signals for traders on the coin's short-term movement. Click Here to get the full Report on SonoCoin (SONO).