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

Wednesday, December 15, 2021 07:29 AM | InvestorsObserver Analysts

Binance Coin (BNB) has been relatively less volatile compared to the crypto market. So far Wednesday, the Payments/Other has added 0.7% to $527.4.

InvestorsObserver is giving Binance Coin a 9 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 9, placing it in the bottom 9% of cryptos on the market.

The Volatility Gauge tracks the previous 60 days, meaning that one day won't make or break the score. BNB's low volatility reading comes 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 around $510.67 and resistance set at $536.55. 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.