Monero (XMR) Falls 0.02%, Underperforms the Crypto Market Monday

Monday, August 22, 2022 07:03 PM | InvestorsObserver Analysts

Monero (XMR) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Monday, the Digital Money has lost 1.6% to $152.35.

InvestorsObserver is giving Monero a 24 Volatility Rank. Find out what this means to you and get the rest of the rankings on Monero!

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Low Volatility

InvestorsObserver gives Monero a low volatility rank of 24, placing it in the bottom 24% of cryptos on the market.

The Volatility Gauge takes into account meaning that one day won't make or break its rank. XMR's low volatility reading comes with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.

Monero price is in a favorable position going forward. With support near $146.81 and resistance at $155.16. 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.