Solana (SOL): How Does the Chart Look Wednesday?

Wednesday, September 28, 2022 05:36 PM | InvestorsObserver Analysts

Solana receives a strong long-term technical score of 75 from InvestorsObserver's research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin's support and resistance levels, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. SOL currently holds a superior long-term technical analysis score than 75% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. coins with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to 'buy the dip'.

InvestorsObserver is giving Solana a 75 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Solana!

See Full Report

Trading Analysis

Solana's price is -$3.3300000 (-9.06%) below its 100-day moving average price of $36.790000000 as its price at the moment sits at $33.460000000. Additionally, SOL is $7.3900000 (86.17%) higher than its 52-week low price of $26.060000000 while -$226.61000000 (9.02%) under its 52-week high of $260.060000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives SOL a strong long-term technical score of 75. Long-term trading movement of Solana suggest that investors are neutral on the coin at the moment. Solana has a market capitalization of $11,869,237,569.62 and a relatively high average daily volume with $6,857,988,566.14 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, SOL's volume is below its seven day average with 1,001,109,816.23 exchanged. This coin's subclass Distributed Software Platform: A platform is a decentralized infrastructure designed for a purpose. These can take the form of exchanges for the trading of cryptocurrencies, decentralized data storage, artificial intelligence, virtual or augmented reality, distributed computing and big data collection, among other things.

Summary

Technical analysis of Solana over the past year results in the crypto receiving a a strong long-term technical score of 75 as its price movement in that time has given traders reason to be neutral on the coin in the long-term. Click Here to get the full Report on Solana (SOL).