Solana (SOL) Rises 0.03%, Underperforms the Crypto Market Saturday

Saturday, December 25, 2021 09:17 AM | InvestorsObserver Analysts

Solana (SOL) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Saturday, the Distributed Software Platform has added 0.03% to $191.29.

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 analyzes which means that one day won't define its volatility rank - a trend will. SOL's low volatility reading is coupled 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 in a favorable position going forward. With support near $185.12 and resistance at $197.25. 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.