Cardano (ADA) Falls 0.01%, Underperforms the Crypto Market Wednesday

Wednesday, October 18, 2023 02:07 PM | InvestorsObserver Analysts

Cardano (ADA) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Wednesday, the Distributed Software Platform has lost 0.73% to $0.2457983591.

InvestorsObserver is giving Cardano a 23 Volatility Rank. Find out what this means to you and get the rest of the rankings on Cardano!

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Low Volatility

InvestorsObserver gives Cardano a low volatility rank of 23, placing it in the bottom 23% of cryptos on the market.

The Volatility Gauge analyzes meaning that one day won't make or break its rank. ADA's low volatility reading comes 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.

Cardano price is in a favorable position going forward. With support near $0.243194520468585 and resistance around $0.248257964844577. This positions Cardano 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.