Price Action
Since last week, Crypto.com Chain Token’s price went down by -5.89%. It is below its 20 day moving average by 7.23%, so it’s somewhat away. Crypto.com Chain Token’s bullish momentum, based on its distance from its 20 day moving average, is among the worst compared to other cryptocurrencies, and thus may indicate the coin has swung too far and too fast — and may thus be due for consolidation or a bullish correction. Now when considering volatility, Crypto.com Chain Token is more prone to sizable price moves than 30% of coins in our index, so it’s notably less volatile than the other cryptocurrencies we’re monitoring. 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 $0.06379421 and $0.07767379.
Volume Update
In the week prior, the daily volume for Crypto.com Chain has ranged between 747,966.7 and 2,633,352 currency units. Looking back over past 21 days, the trend in volume does not have a clear direction, while the price trend is clearly down. The past 7 days saw Crypto.com Chain’s trading turnover — meaning the percentage of its available supply that was traded — come in at 0.03%. This turnover rate is higher than approximately 4.08% 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
The number of wallets holding Crypto.com Chain Token went from 23,625 to 23,666 in the past week, marking a change of 0.17%. As for overall transactions, they increased from 73,534 to 75,208 — an increase of 2.28%. Crypto.com Chain Token’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 2.45% which puts it ahead of 63.89% of the coins in our index. One interpretation of this may be that the coin’s engagement is growing at an above average rate.
Article by SixJupiter
