Binance Coin (BNB), Low Volatility but Falling Saturday: Is it Time to Cash Out?

Saturday, December 25, 2021 09:31 AM | InvestorsObserver Analysts

Binance Coin (BNB) has been relatively less volatile when compared to other cryptocurrencies. So far Saturday, the Payments/Other has fallen 0.74% to $546.78.

InvestorsObserver is giving Binance Coin a 8 Volatility Rank. Find out what this means to you and get the rest of the rankings on Binance Coin!

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Low Volatility

InvestorsObserver gives Binance Coin a low volatility rank of 8, placing it in the bottom 8% of cryptos on the market.

The Volatility Gauge follows which means that one day won't define its volatility rank - a trend will. BNB's low volatility reading is paired 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.

Binance Coin price is favorably positioned going forward. With support at $535.96 and resistance set at $551.85. This leaves Binance Coin 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.