NFT (NFT) What does Tuesday’s chart say?

NFT (NFT) What does Tuesday’s chart say?


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Tuesday 20 September 2022 07:31 PM | Investors Analysts

NFT (NFT) What does Tuesday's chart say?

NFT receives a poor short term technical rating of 8 out of Investors data analysis. The proprietary rating system focuses on recent trading patterns over the past month to determine the strength of short-term technical elements. NFT has a superior recent technical analysis of more than 8% of the coins based on these trading metrics. Investors who focus primarily on short-term investment strategies will find this technical analysis more relevant to their goals when deciding whether to invest in a particular cryptocurrency.

Short Term Technician - 8
Investors The NFT gives a short term technical rating of 8. Find out what this means for you and get the rest of the ratings on the NFT!

Trading Analysis

NFT is $0.000000 (0.32%) above the 30-day low of $0.000000533, while $0.000000 (-15.26%) is below the 30-day high of $0.00000063. Additionally, the current price of NFT of $0.000000535 is below the 30-day moving average of $0.000000576, which leads to a weak technical result in the short term. Overall, the recent trading history of NFT indicates that investors are bearish on the token at the moment. NFT has a low market capitalization compared to the majority of coins with a total market capitalization of $19.71. The relatively low market capitalization of NFT comes under $100 million while the top 100 cryptocurrencies remain above $1 billion in market capitalization and the 500 above $100 million. Average NFT volume is low with $5,078,827.56 token trading over 24 hours. The volume of the NFT is relatively low as the 100 most traded cryptocurrencies typically exchange $100 million per day, and smaller cryptocurrencies tend to trade at less than $5 million over a 24-hour period. Over the past 24 hours, NFT volume has been below its average with $784,979.93 exchanged. Subcategories of Art, Collectibles, and Non-Foldable NFTs: Non-fungible tokens (NFTs) are units of data stored in a digital ledger that uses blockchain technology to authenticate and verify ownership. They often take the form of images, videos, audio, and other representations of real-world elements. This category also includes other tokens used to buy, sell, or collect artwork or some other digital commodity.

Summary

Recent NFT trading over the past month has given a poor technical score in the short term as the recent price action gives traders reason to be more bearish on the token in the short term. Click here for the full report on the NFT (NFT).

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