Cardano is range-bound between $0.354 and $0.361 today after shedding $0.005 and closing at $0.36 today.
Cardano could begin to recover as it approaches significant support, now 1 cents away from $0.352. Dipping below could be an indication that further losses are ahead. ADA's lower Bollinger Band® is at $0.342, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Technical analysis indicates that ADA (currently on a downtrend) might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, EOS slides down 2.92% to trade around $1.17. After ending today's session at $1.2, Tezos USD lost $0.049 and is trading around $1.15.
Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is currently trading at $1.36.
ADA has fallen back around 70.29% from the significant high of $1.21 set 10 months ago. Cardano is currently trading with a market cap of 12.30 billion with an average daily volume of 310.10 million.