Cardano (ADA) Up 0.38% Wednesday: What's Next?

Wednesday, September 21, 2022 04:53 PM | InvestorsObserver Analysts

Cardano (ADA) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Wednesday, the Distributed Software Platform has increased 0.38% to $0.4445239129.

InvestorsObserver is giving Cardano a 26 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 26, placing it in the bottom 26% of cryptos on the market.

The Volatility Gauge follows which means that one day won't define its volatility rank - a trend will. 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 well positioned going forward. With support set at $0.43641285372823 and resistance near $0.451670361290867. 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.