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What do near-term technicals predict for the Zenswap Network Token (ZNT) on Wednesday?

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Wednesday 09 March 2022 19:17 | InvestorsObservers Analysts

Zenswap Network Token receives a strong short-term technical ranking of 78 from InvestorsObserver data analysis. The proprietary ranking system focuses on recent trade trends over the past month to determine the strength of its short-term techniques. ZNT has a recent technical analysis of over 78% of the tokens based on these trading metrics. Investors primarily focused on short-term investment strategies will find this technical analysis most relevant to their goals when determining whether to invest in a particular crypto.

Short term technique - 78
InvestorsObserver gives Zenswap Network Token a technical rank of 78 in the short term. Find out what this means for you and get the rest of the leaderboard on Zenswap Network Token!

Business analysis

The Zenswap network token is $0.000000 (11.17%) above its 30-day low of $0.000001228 while -$0.000152 (-99.11%) is below its 30-day high of $0.00015288. Moreover, ZNT’s current price of $0.000001365 is below its 30-day moving average price of $0.000001801, which leads to a strong technical score in the near term. Overall, Zenswap Network Token’s recent trading history suggests that investors are currently bullish on the token. ZNT has a low market capitalization compared to the majority of tokens with a total market value of $16,380.57. The relatively low market value of Zenswap Network Token comes from the fact that it sits below $100 million, while the top 100 cryptos remain above $1 billion in market capitalization and the top 500 sits above of $100 million. The average volume of Zenswap Network Token is low as $45.37 worth of the token is typically traded within a 24-hour period. ZNT’s volume is relatively low, as the top 100 cryptos typically have $100 million traded daily and smaller cryptos tend to be less than $5 million traded in 24 hours. In the past 24 hours, ZNT’s volume is below its average with $6.43 traded. Decentralized exchange of the Zenswap Network Token subclass: a peer-to-peer (P2P) marketplace for buyers and sellers of cryptocurrencies. Decentralized exchanges allow users to retain control of their private keys during transactions, which is not the case on a centralized exchange.

Summary

Zenswap Network Token’s trading over the past 30 days has given it a strong near-term technical score due to recent price movement suggesting more bullish signals for traders on the token in the near future. Click here for the full Zenswap Network Token (ZNT) report.

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