Solana (SOL) Falls 0.02%, Underperforms the Crypto Market Friday

Friday, March 31, 2023 08:25 AM | InvestorsObserver Analysts

Solana (SOL) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Friday, the Distributed Software Platform has declined 1.54% to $20.28.

InvestorsObserver is giving Solana a 38 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 38, placing it in the bottom 38% of cryptos on the market.

The Volatility Gauge analyzes this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. SOL's moderate volatility reading is paired 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 well positioned going forward. With support set at $19.61 and resistance around $20.96. This leaves 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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