VeChain (VET) Falls 0.05%, Underperforms the Crypto Market Monday

Monday, May 02, 2022 02:25 PM | InvestorsObserver Analysts

VeChain (VET) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Monday, the crypto has dropped 5.14% to $0.0459597511.

InvestorsObserver is giving VeChain a 41 Volatility Rank. Find out what this means to you and get the rest of the rankings on VeChain!

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Moderately Volatile

InvestorsObserver gives VeChain a moderate volatility rank of 41, placing it in the bottom 41% of cryptos on the market.

The Volatility Gauge tracks meaning that one day won't make or break its rank. VET's moderate volatility reading is coupled with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.

VeChain price is in a good position going forward. With support at $0.0423498210756968 and resistance set at $0.0472527091651152. This leaves VeChain 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.