Cardano (ADA) has been relatively less volatile compared to the crypto market. So far Saturday, the crypto has advanced 2.53% to $1.13.
Low Volatility
InvestorsObserver gives Cardano a low volatility rank of 23, placing it in the bottom 23% of cryptos on the market.
The Volatility Gauge analyzes which means that one day won’t define its volatility rank – a trend will.
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 near $1.05 and resistance near $1.14. 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.
