Cardano (ADA) Falls 0.07%, Outperforms the Crypto Market Thursday

Thursday, January 06, 2022 10:40 AM | InvestorsObserver Analysts

Cardano (ADA) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Thursday, the crypto has fallen 7.07% to $1.23.

InvestorsObserver is giving Cardano a 13 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 13, placing it in the bottom 13% of cryptos on the market.

The Volatility Gauge tracks this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. ADA's low volatility reading pairs 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 trading near resistance. With support set at $1.12 and resistance around $1.27. 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.