SonoCoin (SONO) Rises 62.4%, Outperforms the Crypto Market Tuesday

Tuesday, February 22, 2022 11:05 AM | InvestorsObserver Analysts

SonoCoin (SONO) has been relatively more volatile compared to the crypto market. So far Tuesday, the crypto has added 62.4% to $0.02624229396.

InvestorsObserver is giving SonoCoin a 90 Volatility Rank. Find out what this means to you and get the rest of the rankings on SonoCoin!

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Highly Volatile

InvestorsObserver gives SonoCoin a high volatility rank of 90, placing it in the top 10% of cryptos on the market.

The Volatility Gauge analyzes which means that one day won't define its volatility rank - a trend will. SONO's high volatility reading is coupled with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively wide price swings and is well protected from price manipulation.

SonoCoin price is trading near resistance. With support around $0.00854135409125106 and resistance set at $0.0276512998355271. This positions SonoCoin 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.