GoByte (GBX), High Volatility and Falling Monday: Is it Time to Cash Out?

Monday, June 27, 2022 07:17 PM | InvestorsObserver Analysts

GoByte (GBX) has been relatively more volatile compared to the crypto market. So far Monday, the crypto has declined 36.94% to $0.01145673055.

InvestorsObserver is giving GoByte a 96 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 96, placing it in the top 4% of cryptos on the market.

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

GoByte price is well positioned going forward. With support near $0.0104140080337426 and resistance near $0.0124173201446435. This positions 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.