Megacoin (MEC) Up 4.07% Wednesday: What's Next?

Wednesday, August 10, 2022 12:35 PM | InvestorsObserver Analysts

Megacoin (MEC) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Wednesday, the crypto has advanced 4.07% to $0.001441106469.

InvestorsObserver is giving Megacoin a 30 Volatility Rank. Find out what this means to you and get the rest of the rankings on Megacoin!

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Moderately Volatile

InvestorsObserver gives Megacoin a moderate volatility rank of 30, placing it in the bottom 30% of cryptos on the market.

The Volatility Gauge follows which means that one day won't define its volatility rank - a trend will. MEC's moderate volatility reading is paired with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.

Megacoin price is well positioned going forward. With support at $0.0011269160196563 and resistance near $0.00189458251692408. This leaves Megacoin 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.