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What do the Short-Term Technicals Predict for RaceFi (RACEFI) Friday?

Friday, March 01, 2024 11:14 AM | InvestorsObserver Analysts
What do the Short-Term Technicals Predict for RaceFi (RACEFI) Friday?

InvestorsObserver gives RaceFi a weak short-term technical score of 12 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. RACEFI has currently traded better than 12% 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.

Short-Term Technical - 12
InvestorsObserver is giving RaceFi a 12 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on RaceFi!

Trading Analysis

RACEFI is currently $0.002427 (52.82%) above its 30-day low of $0.004594230 and -$0.007178 (-50.55%) below its 30-day high of $0.01419916. Additionally, RACEFI is under its average price of $0.009591781 over the past month of trading with its current price of $0.007020976. Overall, the recent trading history of RaceFi suggest that traders are currently bearish on the token.
RACEFI has a relatively low market cap for a token with a total market value of $324,266.11. RaceFi'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. RaceFi's average volume meanwhile is low with $50,444.67 worth of the token traded over a typical 24 hour period. RACEFI'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. As of the past 24 hours, RACEFI's volume is below its average with $6,570.70 exchanged. RaceFi's subclass Gaming: Gaming crytpocurrencies are similar to rewards or items in traditional games, but are decentralized and exist on the blockchain which allows users to own the items they acquire in-game, such as XP, weapons, and skins that can be traded with other uses. This subclass also includes tokens used in gambling and other forms of entertainment.

Summary

RaceFi'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 RaceFi (RACEFI).

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