Monero (XMR) Falls 0.07%, Underperforms the Crypto Market Wednesday

Wednesday, September 07, 2022 09:13 AM | InvestorsObserver Analysts

Monero (XMR) has been relatively less volatile when compared to other cryptocurrencies. So far Wednesday, the Digital Money has declined 6.61% to $145.11.

InvestorsObserver is giving Monero a 22 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 22, placing it in the bottom 22% of cryptos on the market.

The Volatility Gauge follows which means that one day won't define its volatility rank - a trend will. XMR's low volatility reading is coupled 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 good position going forward. With support near $134.05 and resistance at $148.96. This positions 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.