Monero (XMR) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Wednesday, the Digital Money has increased 2.48% to $124.54.
Moderately Volatile
InvestorsObserver gives Monero a moderate volatility rank of 38, placing it in the bottom 38% of cryptos on the market.
The Volatility Gauge tracks which means that one day won’t define its volatility rank – a trend will.
XMR’s moderate volatility reading is paired with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.
Monero price is trading near resistance. With support around $118.52 and resistance at $124.76. This leaves Monero with potential selling pressures ahead as it may be getting over extended.
What is a Coin?
A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.
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