OAX cryptocurrency rose 315% in one month, too late to invest?

OAX is a decentralized cryptocurrency that falls under the list of those that are traded in large quantities on the market. This week, its price has risen 315% over the past 30 days, leaving some Investors rather confused. Is it still time to jump in or is it too late?

Could OAX be interesting in the long run?

The OAX network aims to improve the ecosystem of crypto assets. On the one hand, by promoting high standards of governance. On the other hand, offering greater transparency and transaction efficiency. What sets the digital asset exchange platform apart from the competition is that it combines the functionality of a decentralized exchange with the benefits of a centralized exchange.

At the heart of this ecosystem is the OAX cryptocurrency. Among the cryptocurrencies currently arousing investor interest, OAX is an Ethereum-based token. Launched by OpenANX in July 2017 during an ICO, the token has a total supply of 100.000.000 OAX. Since then, its price has been rising and falling steadily. According to analysts, OAX has a good chance of increasing its value in the coming years. Especially on the basis of all the developments promised by the cryptocurrency exchange platform. For experts, long-term sentiment remains bullish and it is not impossible that OAX could reach $ 0,44 in 2023.

A technical rating of 99 for OAX

According to InvestorsObserver, OAX has a long-term technical rating of 99. Note that this rating system takes into account many criteria, including trading patterns over the past few months. The transactions carried out in the last year are also examined. This is in order to analyze the consistency of the token, but also its volatility compared to other assets and its position in the medium and long term. This analysis is particularly useful in determining whether an investment in BNT is worthwhile. This can be done for the acquisition or long-term maintenance of the asset.

With a score of 99, OAX has a high long-term technical analysis score. Compared to the rest of the cryptocurrencies, this one immediately ranks it as a high potential crypto. For investors who intend to buy long-term and who intend to keep their tokens, OAX is therefore the most attractive solution. They can also find additional value by looking for cryptocurrencies with a high short-term technical score. This is because it helps identify the tokens that are going down and the cryptocurrencies that are going up.

Price movements worth noting

If we look at the price analysis, we can see that it is currently 374,90% above its 100-day moving average of $ 0,080000000, with a current price of $ 0,390000000. It can also be noted that OAX is less than 52.813,40% above its 52-week low of $ 0,020000000 and less than 2190,46% below its 52-week high of $ 0,440000000.

As a reminder, OAX has a total market value of $ 30.231.795,47 with an average daily trading volume of $ 72.982.373,93. Over the past 24 hours, the volume of OAX has decreased slightly. This compares with the average total trading volume of $ 9.964.588,19.