InvestorsObserver gives Parachute a weak short-term technical score of 26 from its analysis. The proprietary scoring system considers the token’s trading history over the past month to determine the strength of its short-term technicals. PAR has currently traded better than 26% of tokens based on these metrics. Investors focused on healthy recent trading patterns should find the short-term technical ranking system more relevant when making investment decisions.
Trading Analysis
Parachute is $0.000042 (24.43%) above its 30-day low of $0.000169966 while -$0.000233 (-52.43%) below its 30-day high of $0.00044458. In addition, PAR’s current price of $0.000211483 is under its 30-day moving average price of $0.000237371, leading to a weak short-term technical score. Overall the recent trading history of Parachute suggest that investors are bearish on the token at the moment.
Parachute’s market cap of $185,809.52 is relatively low for a token. Parachute’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. Meanwhile, PAR’s average volume is low with $455,171.32 worth of the token traded over an average 24 hour period. PAR’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 last 24 hours, PAR’s volume is below its usual with $60,747.45 exchanged.
Parachute’s subclass Payment Tokens: A token used as a form of payment for goods and services either in or outside of the crypto ecosystem. Often used as payment for services in a particular blockchain environment.
Summary
Parachute’s trading over the past 30 days leads to its a weak short-term technical score due to recent price movement suggesting more bearish signals for traders on the token in the near future.
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