SINOVATE (SIN) Falls 0.48%, Underperforms the Crypto Market Sunday
SINOVATE (SIN) has been relatively more volatile when compared to other cryptocurrencies. So far Sunday, the crypto has declined 48.16% to $0.0004779530868.
Highly Volatile
InvestorsObserver gives SINOVATE a high volatility rank of 86, placing it in the top 14% of cryptos on the market.
The Volatility Gauge analyzes this means that the rank represents its recent trends and isn’t overly influenced by a sudden spike – or two – in volatility.
SIN’s high volatility reading is paired 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.
SINOVATE price is favorably positioned going forward. With support at $-0.0000177324730142546 and resistance set at $0.000910606187727902. This leaves SINOVATE 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.
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