Cardano (ADA) Up 2.36% Sunday: What's Next?

Sunday, December 05, 2021 06:31 AM | InvestorsObserver Analysts

Cardano (ADA) has been relatively less volatile when compared to other cryptocurrencies. So far Sunday, the crypto has gained 2.36% to $1.38, hitting a five-day high.

InvestorsObserver is giving Cardano a 14 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 14, placing it in the bottom 14% of cryptos on the market. The Volatility Gauge tracks the previous 60 days, meaning that one day won't make or break the score. ADA's low volatility reading is coupled 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 favorably positioned going forward. With support around $1.18 and resistance set at $1.54. 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.