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

Tuesday, January 25, 2022 02:23 PM | InvestorsObserver Analysts

Tap receives a strong short-term technical score of 86 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. XTP holds a better recent technical analysis than 86% 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.

InvestorsObserver is giving Tap a 86 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 $0.000399 (116.08%) higher than its 30-day low price of $0.000343967 while also -$0.000277 (-27.14%) lower than its high of $0.00102005 from the past month of trading. Meanwhile, XTP's current price of $0.000743236 is above its average price of $0.000641764 set over the past month of trading, leading to a strong short-term technical score. In summation, the recent trading history of Tap suggest that traders are currently bullish on the token. XTP has a relatively low market cap for a token with a total market value of $915,601.04. 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. Tap's average volume meanwhile is low with $17,520.35 worth of the token traded over a typical 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. As of the past 24 hours, XTP's volume is below its average with $2,516.35 exchanged.

Summary

XTP's recent trading over the past month give it a strong short-term technical score as its recent price movement give traders reason to be more bullish on the token in the short-term. Click Here to get the full Report on Tap (XTP).