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

Tuesday, October 04, 2022 05:56 PM | InvestorsObserver Analysts
Solana (SOL), Moderate Volatility and Rising Tuesday: Is it Time to Cash Out?

Solana (SOL) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Tuesday, the Distributed Software Platform has increased 3.35% to $34.08.

volatility - 38
InvestorsObserver is giving Solana a 38 Volatility Rank. Find out what this means to you and get the rest of the rankings on Solana!

Moderately Volatile

InvestorsObserver gives Solana a moderate volatility rank of 38, placing it in the bottom 38% 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 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 above resistance. With support near $32.22 and resistance set at $33.47. This leaves Solana out of range and potentially in a volatile position if the rally burns out.

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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