Toncoin (TON) Falls 0.02%, Underperforms the Crypto Market Wednesday

Wednesday, August 24, 2022 02:09 PM | InvestorsObserver Analysts

Toncoin (TON) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Wednesday, the crypto has fallen 1.65% to $1.42.

InvestorsObserver is giving Toncoin a 26 Volatility Rank. Find out what this means to you and get the rest of the rankings on Toncoin!

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Moderately Volatile

InvestorsObserver gives Toncoin a moderate volatility rank of 26, placing it in the bottom 26% of cryptos on the market.

The Volatility Gauge tracks this makes its score defined by recent trends, rather than a bad day. TON'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.

Toncoin price is well positioned going forward. With support set at $1.3 and resistance near $1.49. This positions Toncoin 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.