Cardano (ADA), Low Volatility but Rising Friday: Is it Time to Cash Out?

Friday, October 13, 2023 02:00 PM | InvestorsObserver Analysts

Cardano (ADA) has been relatively less volatile when compared to other cryptocurrencies. So far Friday, the Distributed Software Platform has advanced 1.08% to $0.2465202321.

InvestorsObserver is giving Cardano a 24 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 24, placing it in the bottom 24% of cryptos on the market.

The Volatility Gauge tracks which means that one day won't define its volatility rank - a trend will. ADA's low volatility reading is paired 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 around $0.242017650489371 and resistance around $0.24691293526129. 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.