What do the Short-Term Technicals Predict for MELONx (MLNX) Sunday?

Sunday, January 02, 2022 07:56 AM | InvestorsObserver Analysts

InvestorsObserver gives MELONx a weak short-term technical score of 10 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. MLNX has currently traded better than 10% 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 MELONx a 10 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on MELONx!

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Trading Analysis

MELONx is $0.000051 (0.50%) higher than its 30-day low price of $0.010061346 while also -$0.010782 (-51.60%) lower than its high of $0.02089368 from the past month of trading. Meanwhile, MLNX's current price of $0.010111899 is under its average price of $0.014451899 set over the past month of trading, leading to a weak short-term technical score. In summation, the recent trading history of MELONx suggest that traders are currently bearish on the token. MELONx's market cap of $0.00 is relatively low for a token. MELONx'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, MLNX's average volume is low with $5,831.07 worth of the token traded over an average 24 hour period. MLNX'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, MLNX's volume is below its usual with $915.68 exchanged.

Summary

MELONx'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 MELONx (MLNX).