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

Thursday, March 28, 2024 12:04 PM | InvestorsObserver Analysts

Solana (SOL) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Thursday, the Distributed Software Platform has advanced 3.47% to $187.47.

InvestorsObserver is giving Solana a 34 Volatility Rank. Find out what this means to you and get the rest of the rankings on Solana!

See Full Report

Moderately Volatile

InvestorsObserver gives Solana a moderate volatility rank of 34, placing it in the bottom 34% of cryptos on the market.

The Volatility Gauge takes into account 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 coupled 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 near $176.9 and resistance around $188.98. This positions 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.