What do the Short-Term Technicals Predict for DeFi Bids (BID) Saturday?

Saturday, January 22, 2022 08:04 AM | InvestorsObserver Analysts

InvestorsObserver gives DeFi Bids a weak short-term technical score of 7 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. BID has currently traded better than 7% 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 DeFi Bids a 7 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on DeFi Bids!

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Trading Analysis

DeFi Bids is $0.001221 (15.24%) higher than its 30-day low price of $0.008011926 while also -$0.010778 (-53.86%) lower than its high of $0.02001082 from the past month of trading. Meanwhile, BID's current price of $0.009232930 is under its average price of $0.012825676 set over the past month of trading, leading to a weak short-term technical score. In summation, the recent trading history of DeFi Bids suggest that traders are currently bearish on the token. DeFi Bids's market cap of $226,468.81 is relatively low for a token. DeFi Bids'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, BID's average volume is low with $46,913.97 worth of the token traded over an average 24 hour period. BID'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, BID's volume is below its usual with $6,867.44 exchanged. DeFi Bids'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

BID'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 DeFi Bids (BID).