Overall, Cardano had a 0.29% move or $0.001 today and is currently trading at $0.31.
Trend and momentum analysis indicates 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. Momentum evaluation shows that the Relative Strength Index indicates Cardano is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Asset volatility analysis shows that ADA's lower Bollinger Band® is at $0.295, indicating that the market is oversold and fertile for new buyers. Technical analysis of ADA's past price action reveals multiple support and resistance levels: ADA is 1 cents away from testing key resistance at $0.319. Peaking above this level could inspire market bulls and open the path to further gains.
All in all, the technical analysis suggests ADA has no clear-cut direction.
Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
At the same time, after ending today's session at $76.78, Litecoin lost $5.87 and is trading around $70.91. TRON is trading around $0.057 (down $0.001).
ADA has fallen back around 74.5% over the past 11 months, from a notable high of $1.21. Cardano has a market cap of 10.76 billion with an average daily volume of 281.33 million.