Tap (XTP): Does it Score Well on Short-Term Trading Metrics Sunday?

Sunday, May 22, 2022 08:13 AM | InvestorsObserver Analysts

InvestorsObserver gives Tap a weak short-term technical score of 14 from its analysis. The proprietary scoring system considers the token's trading history over the past month to determine the strength of its short-term technicals. XTP has currently traded better than 14% of tokens based on these metrics. Investors focused on healthy recent trading patterns should find the short-term technical ranking system more relevant when making investment decisions.

InvestorsObserver is giving Tap a 14 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

XTP is currently $0.000043 (15.81%) above its 30-day low of $0.000271131 and -$0.000728 (-69.87%) below its 30-day high of $0.00104219. Additionally, XTP is under its average price of $0.000632133 over the past month of trading with its current price of $0.000313990. Overall, the recent trading history of Tap suggest that traders are currently bearish on the token. XTP has a relatively low market cap for a token with a total market value of $386,807.80. 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 $486.54 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 $133.73 exchanged.

Summary

XTP'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 token in the short-term. Click Here to get the full Report on Tap (XTP).