Avalanche (AVAX) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Monday, the Distributed Software Platform has dropped 3.1% to $23.75.
InvestorsObserver gives Avalanche a moderate volatility rank of 51, placing it in the top 49% 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.
AVAX’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.
Avalanche price is favorably positioned going forward. With support at $22.73 and resistance set at $24.24. This positions Avalanche 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.
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