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- 1 SPACE ID is currently trading at $0.292516 with a rise of 4.78% in the past 24 hours.
- 2 The coin has been going through a downward trend.
- 3 The ID coin has declined by -5.53% in the last 7 days.
Recently launched SPACE ID coins become a headache for their investors, facing a challenging time in the market. Investors have lost more than 72% of their invested assets and the hope of the investors is breaking down now. By investigating the price data of the coin, it is observed it is in a tremendous downtrend. The price declined by -5.53% in the last seven days and we can say SPACE ID didn’t perform well last week.
ID declined by -71.77% from its peak price of $1.03 in the span of 3 months. The existing market sentiments are not sounding good about the ID coin. ID crypto tried to break the 50 MA, but was rejected because of low volume. It seems there is no buyer interested in buying the SPACE ID lately. This is why bears are overpowering the market.
SPACE ID Technical Analysis
The price of ID crypto has dropped below 50 and 200 EMA, which suggests the price is in a bearish trend. If sellers continue pushing the price down, the coin’s value may drop even further in the upcoming week. The sellers are not in the mood to shift power to buyers right now.
The current value of RSI is 55.34 points. The 14 SMA line is currently close to the median line, around 48.72 points which indicates neutral sentiment in the market. As the price is heading toward the overbought territory, the market is confronting bullish sentiment currently.
The MACD indicator is also heading toward a positive area pointing to the incline of price. The MACD line at -0.00012311 and signal line at -0.00263877 is beneath the zero line.
Volume Analysis
SPACE ID’s average trading volume for the last 24 hours is $20713267. It is showing a -6.70% increase in volume in a day. The lack of buying interest in the coin is the major reason behind its lower volume.
Summary
SPACE ID is struggling to bounce back from current support. However, it seems that if the price breaks, the primary trendline support level may lead to further price drops in the forthcoming days. However, ID’s price shows a pessimistic situation at the moment. Meanwhile, major reliable indicators like EMA, RSI, and MACD are indicating negative signs about the coin. Due to the adverse performance of the coin, investors are afraid to invest in it. It seems the coin is not showing any recovery signs right at present.
Technical Levels:
- Support Level – The current support level is $0.2464
- Resistance Level –The current resistance level is $0.305.
Disclaimer
The research given in this article is for informative and educational use only. Do not take this information as a financial or trading recommendation. Trading and investing have financial risks. Before creating any investment or trading decision, please consider your risk profile and circumstances.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
