What do the Short-Term Technicals Predict for Novacoin (NVC) Friday?

Friday, June 09, 2023 06:09 PM | InvestorsObserver Analysts

Novacoin receives a strong short-term technical score of 75 from InvestorsObserver analysis. Our proprietary scoring system considers the recent trading patterns of the coin by looking at the price movement to determine if it is trending in the right direction. NVC holds a better recent technical analysis than 75% of coins 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.

InvestorsObserver is giving Novacoin a 75 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Novacoin!

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Trading Analysis

NVC is currently $0.012269 (55.36%) above its 30-day low of $0.022162430 and -$0.019143 (-35.73%) below its 30-day high of $0.05357440. Additionally, NVC is under its average price of $0.034798055 over the past month of trading with its current price of $0.034431709. Overall, the recent trading history of Novacoin suggest that traders are currently bullish on the coin. Novacoin's market cap of $80,424.09 is relatively low for a coin. Novacoin'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, NVC's average volume is low with $638.64 worth of the coin traded over an average 24 hour period. NVC'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, NVC's volume is below its usual with $91.54 exchanged.

Summary

Novacoin's trading over the past 30 days leads to its a strong short-term technical score due to recent price movement suggesting more bullish signals for traders on the coin in the near future. Click Here to get the full Report on Novacoin (NVC).