Struggling to find upward momentum, Cardano has shed $0.001 to currently trade at $0.337 as it ranges between $0.335 and $0.341 so far today.
Cardano made an initial break below its 10 day Simple Moving Average at $0.336, a possible indication of a forthcoming negative trend. On the other hand, note that ADA could begin to recover as it approaches significant support, now 1 cents away from $0.328. Dipping below could be an indication that further losses are ahead.
Looking forward, ADA is poised to extend its strong downtrend and continue declining.
In the meantime, negative performances are also seen in other markets, Binance Coin is down $6.84 from the beginning of the session and now trades around $288.
Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. TRON is up 0.81%.
Cardano has gained 35.22% since its lowest print of $0.244 earlier this year. Cardano has a market cap of 11.66 billion with an average daily volume of 78.90 million.