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Algorand (ALGO) Down 0% Friday: What's Next?

Friday, December 31, 2021 12:00 PM | InvestorsObserver Analysts
Algorand (ALGO) Down 0% Friday: What's Next?

Algorand (ALGO) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Friday, the crypto has fallen 0.3% to $1.72.

volatility - 21
InvestorsObserver is giving Algorand a 21 Volatility Rank. Find out what this means to you and get the rest of the rankings on Algorand!

Low Volatility

InvestorsObserver gives Algorand a low volatility rank of 21, placing it in the bottom 21% of cryptos on the market.

The Volatility Gauge takes into account which means that one day won't define its volatility rank - a trend will. ALGO's low volatility reading is paired with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.

Algorand price is well positioned going forward. With support set at $1.57 and resistance near $1.81. This leaves Algorand 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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