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Vivid Labs (VID): Does it Score Well on Short-Term Trading Metrics Tuesday?

Tuesday, March 21, 2023 12:11 PM | InvestorsObserver Analysts
Vivid Labs (VID): Does it Score Well on Short-Term Trading Metrics Tuesday?

Vivid Labs receives a weak short-term technical score of 28 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. VID holds a better recent technical analysis than 28% 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.

Short-Term Technical - 28
InvestorsObserver is giving Vivid Labs a 28 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Vivid Labs!

Trading Analysis

Vivid Labs is $0.002753 (14.87%) higher than its 30-day low price of $0.018515466 while also -$0.015772 (-42.58%) lower than its high of $0.03704040 from the past month of trading. Meanwhile, VID's current price of $0.021268453 is under its average price of $0.024045206 set over the past month of trading, leading to a weak short-term technical score. In summation, the recent trading history of Vivid Labs suggest that traders are currently bearish on the token.
VID has a low market cap compared to the majority of tokens with a total market value of $3,532,419.95. Vivid Labs'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. Vivid Labs's average volume is low as $2,692,160.91 worth of the token is typically traded over a 24 hour period. VID'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 VID's volume is below its average with $325,981.84 exchanged. Vivid Labs's subclass Art, Collectibles and Non-Fungible Tokens: Non-fungible tokens (NFTs) are units of data stored on a digital ledger that use blockchain technology to authenticate and verify ownership. They often take the form of photos, videos, audio, and other representations of real-world items. This category also includes other tokens that are used in the buying, selling or collecting of art or certain other digital goods.

Summary

Vivid Labs'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 token's short-term movement. Click Here to get the full Report on Vivid Labs (VID).

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