Novacoin (NVC) Up 4.55% Tuesday: What's Next?

Tuesday, May 31, 2022 09:33 AM | InvestorsObserver Analysts

Novacoin (NVC) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Tuesday, the crypto has gained 4.55% to $0.02602272676.

InvestorsObserver is giving Novacoin a 64 Volatility Rank. Find out what this means to you and get the rest of the rankings on Novacoin!

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Moderately Volatile

InvestorsObserver gives Novacoin a moderate volatility rank of 64, placing it in the top 36% of cryptos on the market.

The Volatility Gauge follows this makes its score defined by recent trends, rather than a bad day. NVC's moderate volatility reading comes with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.

Novacoin price is trading near resistance. With support around $0.023879867679714 and resistance around $0.0260496369370211. This positions Novacoin 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.