Monero (XMR) Up 0.95% Monday: What's Next?

Monday, October 17, 2022 06:29 PM | InvestorsObserver Analysts

Monero (XMR) has been relatively less volatile when compared to other cryptocurrencies. So far Monday, the Digital Money has gained 0.95% to $144.36.

InvestorsObserver is giving Monero a 23 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 23, placing it in the bottom 23% 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 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 trading near resistance. With support set at $140.54 and resistance around $144.47. This leaves Monero with potential selling pressures ahead as it may be getting over extended.

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.