Solana receives a weak long-term technical score of 30 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the coin’s consistency, volatility, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.
Currently, SOL holds a superior long-term technical analysis score than 30% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover coins that have bottomed out.
Trading Analysis
Solana’s price is -$46.5200000 (-24.46%) below its 100-day moving average price of $190.160000000 as its price at the moment sits at $143.640000000. Additionally, SOL is $141.4600000 (6081.76%) higher than its 52-week low price of $2.180000000 while -$116.42000000 (51.39%) under its 52-week high of $260.060000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives SOL an average long-term technical score of 30. Long-term trading movement of Solana suggest that investors are bearish on the coin at the moment.
Solana has a total market value of $44,701,387,780.76 with an high average daily volume of $13,815,681,477.10 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 $2,013,232,314.91 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.
Read More:What do the Long-Term Technicals Predict for Solana (SOL) Saturday?
