Phantomx (PNX), High Volatility and Falling Thursday: Is it Time to Cash Out?

Thursday, January 20, 2022 08:32 AM | InvestorsObserver Analysts

Phantomx (PNX) has been relatively more volatile than the crypto market according to a recent analysis of the market. So far Thursday, the crypto has dropped 0.37% to $0.00132569026.

InvestorsObserver is giving Phantomx a 85 Volatility Rank. Find out what this means to you and get the rest of the rankings on Phantomx!

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Highly Volatile

InvestorsObserver gives Phantomx a high volatility rank of 85, placing it in the top 15% of cryptos on the market.

The Volatility Gauge tracks this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. PNX's high volatility reading is paired 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.

Phantomx price is favorably positioned going forward. With support at $0.00130036565274159 and resistance at $0.0013413434967787. This positions Phantomx 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.