VeChain (VET) Rises 0.32%, Underperforms the Crypto Market Monday

Monday, August 29, 2022 02:17 PM | InvestorsObserver Analysts

VeChain (VET) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Monday, the crypto has gained 0.32% to $0.02466949478.

InvestorsObserver is giving VeChain a 26 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 26, placing it in the bottom 26% of cryptos on the market.

The Volatility Gauge analyzes meaning that one day won't make or break its rank. VET's moderate volatility reading is paired 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 set at $0.0238893721017795 and resistance at $0.0250434912506299. This positions 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.