Is Solrise Finance (SLRS) Heading the Wrong Direction Sunday?

Sunday, December 31, 2023 07:55 AM | InvestorsObserver Analysts

Solrise Finance receives a weak short-term technical score of 26 from InvestorsObserver analysis. Our proprietary scoring system considers the recent trading patterns of the token by looking at the price movement to determine if it is trending in the right direction. SLRS holds a better recent technical analysis than 26% of tokens at its current price. Investors who are focused on short-term growth and looking for hot and trendy coins will find the Short-Term Rank especially relevant when allocating their assets.

InvestorsObserver is giving Solrise Finance a 26 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Solrise Finance!

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Trading Analysis

Solrise Finance is $0.004816 (108.99%) higher than its 30-day low price of $0.004418785 while also -$0.010489 (-53.18%) lower than its high of $0.01972375 from the past month of trading. Meanwhile, SLRS's current price of $0.009234625 is under its average price of $0.009274170 set over the past month of trading, leading to a weak short-term technical score. In summation, the recent trading history of Solrise Finance suggest that traders are currently bearish on the token. SLRS has a relatively low market cap for a token with a total market value of $1,386,602.13. Solrise Finance's relatively low market value comes as it sits under $100 million while the top 100 cryptos remain above $1 billion in market cap and the top 500 sit above $100 million. Solrise Finance's average volume meanwhile is low with $308,323.61 worth of the token traded over a typical 24 hour period. SLRS's volume is relatively low as the most traded 100 cryptos typically have $100 million exchanged each day and smaller cryptos tend to sit under $5 million traded over 24 hours. As of the past 24 hours, SLRS's volume is below its average with $44,198.21 exchanged. Solrise Finance's subclass Decentralized Finance: DeFi, or decentrialized finance, Tokens are tokens that are created as an alternative to traditional financial institutions. These tokens are designed to alleviate the needs for brokers, exchanges, and/or banks by offering traditional financial products or services without the need for a central authority through the use of smart contracts.

Summary

SLRS's recent trading over the past month give it a weak short-term technical score as its recent price movement give traders reason to be more bearish on the token in the short-term. Click Here to get the full Report on Solrise Finance (SLRS).