Cardano (ADA) Falls 0.04%, Outperforms the Crypto Market Thursday

Thursday, June 02, 2022 08:13 AM | InvestorsObserver Analysts

Cardano (ADA) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Thursday, the Distributed Software Platform has lost 3.86% to $0.5809126089.

InvestorsObserver is giving Cardano a 37 Volatility Rank. Find out what this means to you and get the rest of the rankings on Cardano!

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Moderately Volatile

InvestorsObserver gives Cardano a moderate volatility rank of 37, placing it in the bottom 37% of cryptos on the market.

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

Cardano price is favorably positioned going forward. With support near $0.523429060112172 and resistance around $0.612596595417196. 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.