A mostly flat day so far for Cardano, ranging between $0.344 and $0.353; currently at $0.349.
Cardano made an initial breakout above its 3 day Simple Moving Average at $0.351, a potential indicator of a newly emerging bullish phase. Cardano's upper Bollinger Band® is at $0.452 and the lower is $0.325. Cardano is approaching key support, around 1 cents away from $0.336. 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.
Despite muted price action in ADA, chart analysis indicates it is positioned for a bullish run in the short term.
Other markets show mixed performance as Bitcoin Cash moves up 1.08% to trade around $108.23. Litecoin gained 1.02% and is currently trading at $52.17.
11 months ago Cardano reached a significant high of $2.27 but has consequently lost 84.64% since then. ADA has a market cap of 11.98 billion with an average daily volume of 63 million.