What do the Short-Term Technicals Predict for Melalie (MEL) Thursday?

Thursday, January 06, 2022 06:51 PM | InvestorsObserver Analysts

Melalie receives an average short-term technical ranking of 35 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. MEL has a superior recent technical analysis than 35% of tokens 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 Melalie a 35 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Melalie!

See Full Report

Trading Analysis

MEL is currently $0.001464 (17.45%) above its 30-day low of $0.008387037 and -$0.033196 (-77.12%) below its 30-day high of $0.04304662. Additionally, MEL is under its average price of $0.018501279 over the past month of trading with its current price of $0.009850543. Overall, the recent trading history of Melalie suggest that traders are currently neutral on the token. MEL has a low market cap compared to the majority of tokens with a total market value of $197,547.62. Melalie'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. Melalie's average volume is low as $167,238.69 worth of the token is typically traded over a 24 hour period. MEL'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 MEL's volume is below its average with $25,906.20 exchanged.

Summary

Melalie's trading over the past 30 days leads to its an average short-term technical score due to recent price movement suggesting more neutral signals for traders on the token in the near future. Click Here to get the full Report on Melalie (MEL).