Without a clear-cut direction, Cardano is trading around $0.38 and ranging between $0.379 and $0.383.
Concerning technical analysis and more specifically, trend indicators, 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. Analysis based on the asset volatility indicates that Cardano's upper Bollinger Band® is at $0.414 and the lower is $0.374. ADA chart analysis: ADA is approaching key support, around 1 cents away from $0.373. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Overall, technical indicators suggest ADA has no obvious direction for the immediate future.
While Cardano is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54%. UNICORN Token USD draws back 2.98% to trade around $6.43. Solana is up 3.17% to $22.66.
ADA hit a significant low of $0.244 around 4 months ago, but has since recovered 55.96%. Cardano is currently trading with a market cap of 13.23 billion with an average daily volume of 312 million.