Slightly weaker but mostly flat: ADA is currently trading at $0.328 as it maintains an active range between $0.327 and $0.334.
With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, ADA's lower Bollinger Band® is at $0.316, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. A study of Cardano's chart reveals various key levels to watch: ADA could begin to recover as it approaches significant support, now 1 cents away from $0.33. Dipping below could be an indication that further losses are ahead.
With market volatility ebbing, the current technical outlook indicates ADA will remain range-bound for the immediate future.
In the meantime, negative performances are also seen in other markets, after ending today's session at $1.21, EOS lost $0.03 and is trading around $1.18. Algorand USD is trading around $0.22 (down $0.006).
Positive performances can be seen by looking at other markets as FTX Token jumps 9.54% to trade around $1.36.
Over the past 11 months, ADA has retreated 72.73% from a noteworthy peak of $1.21. ADA is currently trading with a market cap of 11.37 billion with an average daily volume of 306.75 million.