SINOVATE (SIN) Down 0.25% Sunday: What's Next?

Sunday, October 09, 2022 09:18 AM | InvestorsObserver Analysts

SINOVATE (SIN) has been relatively more volatile compared to the crypto market. So far Sunday, the crypto has dropped 24.97% to $0.0005854211904.

InvestorsObserver is giving SINOVATE a 88 Volatility Rank. Find out what this means to you and get the rest of the rankings on SINOVATE!

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Highly Volatile

InvestorsObserver gives SINOVATE a high volatility rank of 88, placing it in the top 12% of cryptos on the market.

The Volatility Gauge follows this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. SIN's high volatility reading is paired with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively wide price swings and is well protected from price manipulation.

SINOVATE price is well positioned going forward. With support around $0.000440907958393887 and resistance set at $0.000638831293174967. This leaves SINOVATE 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.