As the current session draws to a close, ADA remains in the $0.3 – $0.308 range after dropping 2.96%.
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. ADA has just crossed the lower Bollinger Band® at $0.3, indicating further losses could be forthcoming. Despite this, Cardano reversed direction at $0.3 support zone and climbed 1 cents above it.
Looking forward, Cardano is poised to extend its strong downtrend and continue declining.
In the meantime, negative performances are also seen in other markets, Dogecoin is down to $0.084, losing $0.004, after closing at $0.088 in the preceding trading session. Binance Coin is down to $257.47, losing $10.53, after closing at $268 in the preceding trading session. Bitcoin closed at $17,328 (down 2.75%).
On a negative trend for around a month. ADA has a market cap of 10.31 billion with an average daily volume of 36.96 million.