Cardano (ADA) Falls 0.06%, Underperforms the Crypto Market Friday

Friday, April 22, 2022 10:28 AM | InvestorsObserver Analysts

Cardano (ADA) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Friday, the Distributed Software Platform has declined 5.74% to $0.9069420613.

InvestorsObserver is giving Cardano a 28 Volatility Rank. Find out what this means to you and get the rest of the rankings on Cardano!

See Full Report

Moderately Volatile

InvestorsObserver gives Cardano a moderate volatility rank of 28, placing it in the bottom 28% of cryptos on the market.

The Volatility Gauge takes into account meaning that one day won't make or break its rank. ADA's moderate volatility reading is coupled 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 trading near resistance. With support near $0.846596901334071 and resistance around $0.919137422955775. This positions Cardano with potential selling pressures ahead as it may be getting over extended.

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.