Monero (XMR) has been relatively less volatile when compared to other cryptocurrencies. So far Tuesday, the Digital Money has increased 1.39% to $146.55.
Low Volatility
InvestorsObserver gives Monero a low volatility rank of 23, placing it in the bottom 23% of cryptos on the market.
The Volatility Gauge tracks this means that the rank represents its recent trends and isn’t overly influenced by a sudden spike – or two – in volatility.
XMR’s low volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.
Monero price is trading near resistance. With support set at $140.98 and resistance set at $147.11. 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.
Stay In The Know
Subscribe to our daily morning update newsletter and never miss out on the need-to-know market news, movements, and more.
Thank you for signing up! You’re all set to receive the Morning Update newsletter