Novacoin (NVC), High Volatility and Falling Wednesday: Is it Time to Cash Out?

Wednesday, June 29, 2022 11:31 AM | InvestorsObserver Analysts

Novacoin (NVC) has been relatively more volatile than the crypto market according to a recent analysis of the market. So far Wednesday, the crypto has dropped 39.71% to $0.01061763177.

InvestorsObserver is giving Novacoin a 81 Volatility Rank. Find out what this means to you and get the rest of the rankings on Novacoin!

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Highly Volatile

InvestorsObserver gives Novacoin a high volatility rank of 81, placing it in the top 19% of cryptos on the market.

The Volatility Gauge analyzes this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. NVC's high volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively wide price swings and is well protected from price manipulation.

Novacoin price is well positioned going forward. With support at $0.00711418291092844 and resistance around $0.0130177659309003. This positions Novacoin 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.