Zenon (ZNN), High Volatility and Rising Wednesday: Is it Time to Cash Out?

Wednesday, December 29, 2021 11:57 AM | InvestorsObserver Analysts

Zenon (ZNN) has been relatively more volatile when compared to other cryptocurrencies. So far Wednesday, the crypto has increased 2.98% to $15.63.

InvestorsObserver is giving Zenon a 100 Volatility Rank. Find out what this means to you and get the rest of the rankings on Zenon!

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Highly Volatile

InvestorsObserver gives Zenon a high volatility rank of 100, placing it in the top 0% of cryptos on the market.

The Volatility Gauge analyzes which means that one day won't define its volatility rank - a trend will. ZNN's high volatility reading comes 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.

Zenon price is favorably positioned going forward. With support near $14.36 and resistance around $16.49. This leaves Zenon 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.