Solana (SOL), Moderate Volatility and Rising Sunday: Is it Time to Cash Out?

Sunday, August 06, 2023 10:13 AM | InvestorsObserver Analysts

Solana (SOL) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Sunday, the Distributed Software Platform has added 0.79% to $22.92.

InvestorsObserver is giving Solana a 50 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 50, placing it in the top 50% of cryptos on the market.

The Volatility Gauge follows meaning that one day won't make or break its rank. SOL's moderate volatility reading pairs 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 trading near resistance. With support at $22.41 and resistance near $22.98. This leaves Solana 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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