Smaugs NFT (SMG) has been relatively more volatile than the crypto market according to a recent analysis of the market. So far Sunday, the Art, Collectibles and Non-Fungible Tokens has fallen 38.34% to $0.0008998776915.
InvestorsObserver gives Smaugs NFT a high volatility rank of 86, placing it in the top 14% of cryptos on the market.
The Volatility Gauge takes into account meaning that one day won’t make or break its rank.
SMG’s high volatility reading comes with a low reading on the Risk/Reward Gauge, meaning that the token has relatively wide price swings and is well protected from price manipulation.
Smaugs NFT price is well positioned going forward. With support at $0.000525397782258014 and resistance at $0.00111940940660171. This leaves Smaugs NFT with room to run before facing selling pressures.
What is a Token?
Tokens are digital assets that exist on another cryptocurrency’s blockchain.
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