Cardano (ADA) Rises 0.43%, Underperforms the Crypto Market Monday
Monday, May 23, 2022 07:07 AM | InvestorsObserver Analysts
Cardano (ADA) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Monday, the Distributed Software Platform has advanced 0.43% to $0.5478854272.
InvestorsObserver is giving Cardano a 34 Volatility Rank. Find out what this means to you and get the rest of the rankings on Cardano!
InvestorsObserver gives Cardano a moderate volatility rank of 34, placing it in the bottom 34% of cryptos on the market.
The Volatility Gauge follows 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 well positioned going forward. With support set at $0.530282510168747 and resistance at $0.553906989939408. This leaves 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.
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