BNB (BNB) Rises 2.09%, Underperforms the Crypto Market Friday

Friday, December 08, 2023 08:54 AM | InvestorsObserver Analysts

BNB (BNB) has been relatively less volatile compared to the crypto market. So far Friday, the Payments/Other has gained 2.09% to $235.14.

InvestorsObserver is giving BNB a 16 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 16, placing it in the bottom 16% of cryptos on the market.

The Volatility Gauge follows this makes its score defined by recent trends, rather than a bad day. BNB'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.

BNB price is trading above resistance. With support around $228.17 and resistance around $233.51. This leaves BNB out of range and potentially in a volatile position if the rally burns out.

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.