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Sunday, November 13, 2022 08:40 AM | InvestorsObserver Analysts

Bytecoin receives a strong short-term technical ranking of 70 from InvestorsObserver data analysis. The proprietary ranking system focuses on the recent trading patters over the past month to determine the strength of its short-term technicals. BCN has a superior recent technical analysis than 70% of coins based on these trading metrics. Investors primarily focused on shorter term investment strategies will find this technical analysis most relevant to their goals when determining whether to invest in a particular crypto.

Short-Term Technical - 70
InvestorsObserver is giving Bytecoin a 70 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Bytecoin!

Trading Analysis

Bytecoin is $0.000005 (22.24%) higher than its 30-day low price of $0.000020686 while also -$0.000004 (-14.67%) lower than its high of $0.00002963 from the past month of trading. Meanwhile, BCN’s current price of $0.000025286 is above its average price of $0.000024488 set over the past month of trading, leading to a strong short-term technical score. In summation, the recent trading history of Bytecoin suggest that traders are currently bullish on the coin.

BCN has a low market cap compared to the majority of coins with a total market value of $4,654,280.20. Bytecoin’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. Bytecoin’s average volume is low as $208,266.74 worth of the coin is typically traded over a 24 hour period. BCN’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 past 24 hours BCN’s volume is below its average with $28,647.21 exchanged.

Bytecoin’s subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.

Summary

Bytecoin’s price movement over the past month has led to a a strong short-term technical score due to recent trading giving more bullish signals for traders on the coin’s short-term movement.

Click Here to get the full Report on Bytecoin (BCN).

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