Algorand (ALGO) Rises 9.58%, Outperforms the Crypto Market Saturday

Saturday, May 07, 2022 07:24 PM | InvestorsObserver Analysts

Algorand (ALGO) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Saturday, the crypto has added 9.58% to $0.7604851983.

InvestorsObserver is giving Algorand a 33 Volatility Rank. Find out what this means to you and get the rest of the rankings on Algorand!

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Moderately Volatile

InvestorsObserver gives Algorand a moderate volatility rank of 33, placing it in the bottom 33% of cryptos on the market.

The Volatility Gauge tracks this makes its score defined by recent trends, rather than a bad day. ALGO's moderate volatility reading comes with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.

Algorand price is trading above resistance. With support at $0.64636329326969 and resistance near $0.725289916137274. This leaves Algorand out of range and potentially in a volatile position if the rally burns out.

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.