ADA is down by $0.009 (-2.35%); currently trading around $0.366

Cardano is range-bound between $0.362 and $0.375 today after shedding $0.009 and closing at $0.375 today.

Cardano could begin to recover as it approaches significant support, now 1 cents away from $0.372. Dipping below could be an indication that further losses are ahead. ADA made an initial break below its 21 day Simple Moving Average at $0.369, a possible indication of a forthcoming negative trend. ADA's upper Bollinger Band® is at $0.383 which indicates a further downward move may follow.

Looking forward, Cardano is poised to extend its strong downtrend and continue declining.

In the meantime, negative performances are also seen in other markets, Ripple closed at $0.506 (down 2.08%).

Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Litecoin is up 4.58% to $94.7.

Trending downwards for around a month. Cardano has a market cap of 12.76 billion with an average daily volume of 163.72 million.