Price Action
Over the past week, Crypto.com Chain Token saw its price go up by 35.82%. It is above its 20 day moving average by 23.66%, so it’s very far away. Crypto.com Chain Token’s bullish momentum, determined by its distance from its 20 day moving average, is well above average relative to its peers, and thus may be a sign the market for the coin is overheating and due to correct downwards. In terms of volatility, Crypto.com Chain Token exhibits greater price volatility than approximately 74% of coins in our index, so traders can expect a bit more volatility than usual. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Crypto.com Chain Token in US dollars is expected to be between $0.05232257 and $0.07982843.
Volume Update
In the week prior, the daily volume for Crypto.com Chain has ranged between 661,854.4 and 8,565,469 currency units. Looking back over past 21 days, the trend in volume is not clear, though price is marching upwards. The past 7 days saw Crypto.com Chain’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.06%. This turnover rate is higher than approximately 5.88% of the cryptocurrencies we monitor, which means it’s well below average; this coin may be hard to get into and out of, and thus is suitable only for those interested in holding and exiting slowly and patiently.
Engagement Update
Crypto.com Chain Token saw the number of wallets holding its coin go from 25,724 to 25,789 over the past week — a change of 0.25%. As for overall transactions, they increased from 97,931 to 98,965 — an increase of 1.06%. This translates to a combined engagement growth rate of 1.31% for Crypto.com Chain Token — which is higher than 44.12% of the cryptocurrencies we’re reporting on. One interpretation of this may be that the coin’s weekly growth in engagement is fairly mediocre.
Article by SixJupiter
