Tap (XTP): Does it Score Poorly on Short-Term Trading Metrics Thursday?

Thursday, July 21, 2022 01:01 PM | InvestorsObserver Analysts

Tap receives a strong short-term technical ranking of 90 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. XTP has a superior recent technical analysis than 90% of tokens 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 Tap a 90 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Tap!

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Trading Analysis

Tap is $0.000190 (118.86%) above its 30-day low of $0.000159932 while -$0.000370 (-51.39%) below its 30-day high of $0.00072009. In addition, XTP's current price of $0.000350023 is above its 30-day moving average price of $0.000241443, leading to a strong short-term technical score. Overall the recent trading history of Tap suggest that investors are bullish on the token at the moment. Tap's market cap of $431,197.52 is relatively low for a token. Tap'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. Meanwhile, XTP's average volume is low with $3,209.25 worth of the token traded over an average 24 hour period. XTP'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 last 24 hours, XTP's volume is below its usual with $482.17 exchanged.

Summary

Tap'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 Tap (XTP).