Solana receives a weak long-term technical score of 30 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 30% 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’.
Trading Analysis
The current trading price of $87.560000000 for SOL is -$49.8600000 (-36.29%) below the coins 100-day moving average of $137.420000000. SOL meanwhile is $75.1900000 (618.86%) above its 52-week low of $12.370000000 and -$172.51000000 (29.82%) under its 52-week high price of $260.060000000. Solana’s current price relative to the coins long-term average and 52-week high and low, gives the crypto an average long-term technical score of 30. The price movement and range of SOL suggest that investors are bearish on the coin at this time.
Solana has a total market value of $28,250,080,588.91 with an high average daily volume of $14,930,712,591.14 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, SOL’s volume is below its average with $2,570,682,991.05 exchanged in total.
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
SOL’s historical trading over the past year gives it a a weak long-term technical score of 30 as its price movement in that time has given investors reason to be bearish on the coin in the long-term.
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