HempCoin (THC) Falls 0.06%, Underperforms the Crypto Market Tuesday

Tuesday, April 02, 2024 08:05 AM | InvestorsObserver Analysts

HempCoin (THC) has been relatively more volatile than the crypto market according to a recent analysis of the market. So far Tuesday, the crypto has dropped 5.98% to $0.002810676191.

InvestorsObserver is giving HempCoin a 81 Volatility Rank. Find out what this means to you and get the rest of the rankings on HempCoin!

See Full Report

Highly Volatile

InvestorsObserver gives HempCoin a high volatility rank of 81, placing it in the top 19% of cryptos on the market.

The Volatility Gauge takes into account this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. THC'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.

HempCoin price is trading near resistance. With support at $0.0026984756796108 and resistance around $0.00283633889466985. This leaves HempCoin with potential selling pressures ahead as it may be getting over extended.

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.