Is NFT (NFT) trending lower or higher on Saturday?

by James · August 27, 2022

NFT gets a weak long-term technical score of 1 from InvestorsObserverits research based on historical trade patterns. The proprietary scoring system weighs price movements from the last few months to a year, analyzes the token’s support and resistance levels, and where it compares to long-term averages to determine whether it is a strong buy-and-hold investment opportunity. NFT currently has a superior long-term technical analysis score to 1% of cryptos in circulation. This ranking metric is most useful for buy-and-hold investors who look for strong consistent growth when allocating their assets. Tokens with high technical scores in the long and short term can help indicate assets that have bottomed out, giving investors a chance to ‘buy the dip’.

InvestorsObserver gives NFT a 1 long-term technical rating. Find out what this means for you and get the rest of the rankings on NFT!

Table of Contents

Trade analysis

NFT’s price is -$0.0145692 (-100.00%) below its 100-day moving average price of $0.014569761, as the price is currently at $0.000000579. Additionally, NFT is $0.0000000 (-1952295465.50%) higher than its 52 week low of $0.000000563 while -$0.59644027 (-1676.61%) below its 52 week high of $0.5964408 The current trading price relative to its long-term average along with the 52-week high and low gives NFT an average long-term technical score of 1. Long-term trading movement of NFT suggests that investors are bearish on the token at the moment. NFT has a market capitalization of $21.34 and a relatively low average daily volume with $2,038,659.24 worth of the currency traded over a typical 24-hour period. Over the past 24 hours, NFT’s volume is below its seven-day average with 282,289.99 exchanged. This token’s subclass Art, Collectibles and Non-Fungible Tokens: Non-fungible tokens (NFTs) are units of data stored on 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 objects. This category also includes other tokens used to buy, sell or collect art or certain other digital goods.

Summary

NFT’s historical trading over the past year gives it a weak long-term technical score of 1 as the price movement in that time has given investors reason to be bearish on the token in the long term. Click here to get the full report on NFT (NFT).