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- 1 Status Crypto price is trading above the key moving averages, showcasing bullishness.
- 2 SNT Crypto price is in the bull’s grasp targeting new highs.
Status Network Token (SNT) is a token that works on the Status.im platform, which is a platform that lets people message and socialize on the Ethereum blockchain. SNT helps people communicate with each other on the Status network.
Status Network Token (SNT) was made by people like Jarrad Hope and Carl Bennetts who made Status.im. Status.im is a platform that anyone can use and change, and it aims to make communication more decentralized while protecting user privacy and security.
Status Network Token (SNT) is a token that people can use on the Status.im platform. It lets people have a say in how the platform works, get rewards for helping the network and use more features and services. SNT is also a way to pay for things and interact with people on the Status network, like buying and selling goods and services.
Chart Analysis of Status Crypto
The price action of the Status crypto shows that selling pressure was noted on the charts and the price was in a downtrend, forming lower lows over the past few months. Moreover, due to declining investor interest, trading volume was below average.
Furthermore, the Status token showed a decline in user activity which also led to the rise of negative sentiments regarding the crypto and this led to bearishness in the charts.
The ongoing trend favors bears, and the crypto was also in a corrective phase, which made buyers cautious. Moreover, the Status token trades below the significant moving averages and tries to sustain the 50-day EMA to hold the gains.
At the time of writing, the Status token price is trading at $0.04000 with an intraday gain of 6.37%, showing a bounce from the lower trendline near the support level of $0.07495. Moreover, the intraday trading volume is $10.097 Million while the market cap is $154.72 Million.
The Status token has shown a notable performance over the years. Year-to-date, it has experienced negative returns of 115.63%, and over the past six months, it recorded negative returns of 67.71%. In the last month, it exhibited a negative return of 37.88%, and over the last seven days, it had a negative return of 3.73%. These figures suggest a prolonged bearish trend in the recent performance of the token.
The SNT crypto demonstrated sellers’ strength, with short-term charts reflecting profit-taking in the cryptocurrency. Additionally, the price is trading below the major EMAs, signaling further weakness in the cryptocurrency. The RSI curve is near 38, entering the oversold zone, with a negative outlook, suggesting a bearish sentiment in the cryptocurrency. The MACD indicator continues to form a red band, and a bearish crossover has appeared, indicating a corrective move in the market. These technical indicators collectively point towards a challenging market environment for SNT.
Conclusion
The technical oscillator for Status (USD: SNT) aligns with the bearish trend. The MACD, RSI, and EMA indicators are providing negative signals, indicating that the downward trend in the price of the SNT cryptocurrency may persist. The overall price action suggests that investors and traders are bearish in the short term. The current bearish outlook is reflected in the ongoing price action.
Technical Levels
Support Levels: $0.03771.
Resistance Levels: $0.05033.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
