Florin (XFL) Down 0.33% Monday: What's Next?

Monday, May 29, 2023 07:26 PM | InvestorsObserver Analysts

Florin (XFL) has been relatively more volatile than the crypto market according to a recent analysis of the market. So far Monday, the crypto has declined 32.69% to $12.49.

InvestorsObserver is giving Florin a 83 Volatility Rank. Find out what this means to you and get the rest of the rankings on Florin!

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Highly Volatile

InvestorsObserver gives Florin a high volatility rank of 83, placing it in the top 17% of cryptos on the market.

The Volatility Gauge analyzes which means that one day won't define its volatility rank - a trend will. XFL'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.

Florin price is well positioned going forward. With support set at $9.14 and resistance at $14.13. This positions Florin 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.