ADA weakened earlier in the day, before moving away from its $0.355 low and recovering back to $0.36.
Technical analysis trend indicators suggest that Cardano made an initial break below its 10 day Simple Moving Average at $0.36, a possible indication of a forthcoming negative trend. Visual analysis of Cardano's chart shows that Cardano could begin to recover as it approaches significant support, now 1 cents away from $0.351. Dipping below could be an indication that further losses are ahead.
Overall, while Cardano has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
In the meantime, negative performances are also seen in other markets, Ripple is down to $0.457, losing $0.012, after closing at $0.469 in the preceding trading session. Bitcoin Cash decreases 1.88% to trade around $108.85. EOS is trading around $1.08 (down $0.019).
ADA hit a significant low of $0.34 around 4 days ago, but has since recovered 6.46%. Cardano is currently trading with a market cap of 12.36 billion with an average daily volume of 63.15 million.