Monero (XMR) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Thursday, the Digital Money has declined 1.88% to $139.85.
InvestorsObserver gives Monero a low volatility rank of 23, placing it in the bottom 23% of cryptos on the market.
The Volatility Gauge follows which means that one day won’t define its volatility rank – a trend will.
XMR’s low volatility reading is coupled 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 favorably positioned going forward. With support at $133.09 and resistance set at $143.16. This leaves Monero with room to run before facing selling pressures.
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.
This news is republished from another source. You can check the original article here