What do the Short-Term Technicals Predict for Bytecoin (BCN) Saturday?

Saturday, January 22, 2022 01:34 PM | InvestorsObserver Analysts

Bytecoin receives a weak short-term technical ranking of 17 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. BCN has a superior recent technical analysis than 17% of coins 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 Bytecoin a 17 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Bytecoin!

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Trading Analysis

BCN is currently $0.000004 (2.52%) above its 30-day low of $0.000176648 and -$0.000151 (-45.45%) below its 30-day high of $0.00033199. Additionally, BCN is under its average price of $0.000246313 over the past month of trading with its current price of $0.000181095. Overall, the recent trading history of Bytecoin suggest that traders are currently bearish on the coin. BCN has a relatively average market cap for a coin with a total market value of $33,333,598.56. The market valuation for Bytecoin is relatively average due to the largest 100 cryptos having a market cap above $1 billion and BCN sits underneath that mark but remains above $100 million in market capilization. Bytecoin's average volume meanwhile is average with $942,184.31 worth of the coin traded over a typical 24 hour period. The volume for BCN is relatively average as the most traded 100 cryptos have roughly $100 million worth of the crypto exchanged over a 24 hour period and a large portion of the market trades at least $5 million worth each day. As of the past 24 hours, BCN's volume is below its average with $140,552.92 exchanged. Bytecoin's subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.

Summary

BCN'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 coin in the short-term. Click Here to get the full Report on Bytecoin (BCN).