Solana (SOL) Falls 0.05%, Underperforms the Crypto Market Friday

Friday, December 10, 2021 07:01 AM | InvestorsObserver Analysts

Solana (SOL) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Friday, the Distributed Software Platform has dropped 4.99% to $178.65.

InvestorsObserver is giving Solana a 16 Volatility Rank. Find out what this means to you and get the rest of the rankings on Solana!

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Low Volatility

InvestorsObserver gives Solana a low volatility rank of 16, placing it in the bottom 16% of cryptos on the market.

The Volatility Gauge tracks the previous 60 days, meaning that one day won't make or break the score. SOL's low volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.

Solana price is favorably positioned going forward. With support around $167.07 and resistance set at $184.97. 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.