BNB (BNB) Falls 0.04%, Underperforms the Crypto Market Tuesday

Tuesday, July 12, 2022 06:52 AM | InvestorsObserver Analysts

BNB (BNB) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Tuesday, the Payments/Other has declined 4.36% to $222.67.

InvestorsObserver is giving BNB a 21 Volatility Rank. Find out what this means to you and get the rest of the rankings on BNB!

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Low Volatility

InvestorsObserver gives BNB a low volatility rank of 21, placing it in the bottom 21% 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 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.

BNB price is trading near resistance. With support at $214.36 and resistance at $223.51. This positions BNB 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.