ADA gets off to a weak start; down 1.27% this morning to $0.356

Cardano slides down from $0.36 to $0.356 today, losing $0.005 (1.27%).

Cardano could begin to recover as it approaches significant support, now 1 cents away from $0.352. Dipping below could be an indication that further losses are ahead. Bollinger Bands® shows an indication of recovery: the lower band is at $0.342, a low enough level to, generally, suggest that Cardano is trading below its fair value.

Technical analysis indicates that ADA (currently on a downtrend) might reverse course and start pointing upward in the short term.

In the meantime, negative performances are also seen in other markets, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session. EOS is down to $1.19, losing $0.022, after closing at $1.21 in the preceding trading session.

Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.

Having set a significant high of $1.21 10 months ago, Cardano is trading 70.29% lower. ADA is currently trading with a market cap of 12.33 billion with an average daily volume of 310.10 million.