Slightly weaker but mostly flat: Cardano is currently trading at $0.318 as it maintains an active range between $0.318 and $0.331.
Despite being in the red so far in the current trading session, Cardano peaked above its 5 day Simple Moving Average around $0.33 — typically an early indicator of a new bullish trend beginning to emerge. ADA could begin to recover as it approaches significant support, now 1 cents away from $0.322. Dipping below could be an indication that further losses are ahead.
Technical analysis shows that ADA (currently on a downtrend) might reverse course and start going up in the short term.
In the meantime, negative performances are also seen in other markets, Ethereum is down to $1,163, losing $55.36, after closing at $1,218.36 in the preceding trading session. Algorand USD is trading around $0.28 (down $0.02). After ending today's session at $63.87, Litecoin lost $2.44 and is trading around $61.43.
Cardano is trading 82.92% lower compared to the $1.92 high it reached over the past year. ADA has a market cap of 10.95 billion with an average daily volume of 101.87 million.