Monero (XMR) Down 0.14% Tuesday: What's Next?

Tuesday, May 10, 2022 04:59 PM | InvestorsObserver Analysts

Monero (XMR) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Tuesday, the Digital Money has lost 13.89% to $160.04.

InvestorsObserver is giving Monero a 34 Volatility Rank. Find out what this means to you and get the rest of the rankings on Monero!

See Full Report

Moderately Volatile

InvestorsObserver gives Monero a moderate volatility rank of 34, placing it in the bottom 34% of cryptos on the market.

The Volatility Gauge analyzes this makes its score defined by recent trends, rather than a bad day. XMR's moderate volatility reading is coupled with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.

Monero price is in a favorable position going forward. With support at $137.06 and resistance at $182.27. This leaves Monero 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.