ChainX (PCX) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Friday, the crypto has advanced 6.73% to $1.52.
Low Volatility
InvestorsObserver gives ChainX a low volatility rank of 23, placing it in the bottom 23% of cryptos on the market.
The Volatility Gauge takes into account this means that the rank represents its recent trends and isn’t overly influenced by a sudden spike – or two – in volatility.
PCX’s low volatility reading is coupled with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.
ChainX price is trading near resistance. With support near $1.3 and resistance set at $1.52. This leaves ChainX with potential selling pressures ahead as it may be getting over extended.
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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