DeepOnion (ONION) Falls 0.32%, Underperforms the Crypto Market Thursday

Thursday, December 08, 2022 06:51 PM | InvestorsObserver Analysts

DeepOnion (ONION) has been relatively more volatile when compared to other cryptocurrencies. So far Thursday, the Digital Money has declined 31.78% to $0.0500541037.

InvestorsObserver is giving DeepOnion a 87 Volatility Rank. Find out what this means to you and get the rest of the rankings on DeepOnion!

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Highly Volatile

InvestorsObserver gives DeepOnion a high volatility rank of 87, placing it in the top 13% of cryptos on the market.

The Volatility Gauge takes into account which means that one day won't define its volatility rank - a trend will. ONION's high volatility reading comes with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively wide price swings and is well protected from price manipulation.

DeepOnion price is favorably positioned going forward. With support at $0.0322590161801272 and resistance at $0.0585402873099737. This leaves DeepOnion 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.