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Trading Signals

Mixed sentiment leads Cardano cryptocurrency to trade sideways; establishes tight $0.391 to $0.396 range

04 May 2023

ADAUSD

ADA slides down from $0.394 to $0.393 today, losing $0.001 (0.16%).

Cardano is climbing away and is now 2 cents from the $0.378 support line. ADA made an initial breakout above its 10 day Simple Moving Average at $0.395, a potential indicator of a newly emerging bullish phase.

Despite muted price action in ADA, chart analysis indicates it is positioned for a bullish run in the short term.

While Cardano is pretty flat so far today, mixed performances are seen elsewhere as FTX Token rallies 9.54% to trade around $1.36. UNICORN Token USD is down $0.197 from the beginning of the session and now trades around $6.43. Bitcoin Cash is down to $118.56, losing $1.65, after closing at $120.21 in the preceding trading session.

ADA has shed $0.514 points and is languishing 56.6% lower over the past year, leaving its yearly highs around $0.897 in the rear-view mirror. ADA is currently trading with a market cap of 13.70 billion with an average daily volume of 359.48 million.

Market Summary

Latest Crypto News

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Binance Coin cryptocurrency trades up $1, approximately 0.32% higher going into tomorrow

Mixed sentiment leads TRON cryptocurrency to trade sideways; establishes tight $0.069 to $0.07 range

After five days of going down, Solana is flat today, hovering around $20.62

LTC cryptocurrency trades up $0.62, approximately 0.74% higher going into tomorrow

XRP is down 0.31%, trading at $0.458

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