What do the long-term technicals predict for NFT (NFT) on Wednesday?

by James · September 21, 2022

NFT gets a weak long-term technical score of 27 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 than 27% of cryptos in circulation. This ranking metric is most useful for buy-and-hold investors looking 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 giving NFT a 27 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 is currently -$0.0083193 (-99.99%) below its 100 day moving average price of $0.008319857 with current price of $0.000000521. Meanwhile, NFT is $0.0000000 (-2122506601.11%) above its 52 week low of $0.000000518 and -$0.59644033 (-1676.61%) below its 52 week high of $0.559240. The current price relative to its moving average and 52-week high and low leads to an average long-term technical score of 27. Trends for the long-term trading history of NFT suggest that traders are currently bearish on the token. NFT has a total market capitalization of $19.19 with a low average daily volume of $5,481,214.57 of the currency exchanged over a typical 24-hour period. In the last 24 hours, NFT’s volume is below average with $718,856.01 exchanged in total. 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

Trading patterns over the past year for NFT lead the token to have a weak long-term technical score of 27 as its consistency, volatility and relationship to long-term averages have given investors reason to be bearish on the token. Click here to get the full report on NFT (NFT).