GoByte (GBX) Falls 0.57%, Underperforms the Crypto Market Friday

Friday, August 05, 2022 04:35 PM | InvestorsObserver Analysts

GoByte (GBX) has been relatively more volatile compared to the crypto market. So far Friday, the crypto has declined 56.6% to $0.005963388273.

InvestorsObserver is giving GoByte a 94 Volatility Rank. Find out what this means to you and get the rest of the rankings on GoByte!

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Highly Volatile

InvestorsObserver gives GoByte a high volatility rank of 94, placing it in the top 6% 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. GBX's high volatility reading is coupled 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.

GoByte price is favorably positioned going forward. With support near $0.00318972995669686 and resistance around $0.00950841276140057. This leaves GoByte 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.