Monero (XMR), Low Volatility but Rising Thursday: Is it Time to Cash Out?

Thursday, December 08, 2022 01:02 PM | InvestorsObserver Analysts

Monero (XMR) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Thursday, the Digital Money has increased 3.87% to $147.33.

InvestorsObserver is giving Monero a 16 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 16, placing it in the bottom 16% of cryptos on the market.

The Volatility Gauge tracks this makes its score defined by recent trends, rather than a bad day. XMR's low volatility reading pairs 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 trading above resistance. With support around $140.72 and resistance set at $143.57. This leaves Monero out of range and potentially in a volatile position if the rally burns out.

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.