Solana (SOL) Falls 0.01%, Outperforms the Crypto Market Monday

Monday, June 05, 2023 08:45 AM | InvestorsObserver Analysts

Solana (SOL) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Monday, the Distributed Software Platform has lost 0.94% to $21.54.

InvestorsObserver is giving Solana a 30 Volatility Rank. Find out what this means to you and get the rest of the rankings on Solana!
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Moderately Volatile

InvestorsObserver gives Solana a moderate volatility rank of 30, placing it in the bottom 30% of cryptos on the market.

The Volatility Gauge analyzes this makes its score defined by recent trends, rather than a bad day. SOL'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.

Solana price is in a favorable position going forward. With support set at $20.84 and resistance set at $22.06. This positions Solana 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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