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May 25, 2023ADA is range-bound between $0.356 and $0.364 today after shedding $0.008 and closing at $0.364 today.
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. ADA has just crossed the lower Bollinger Band® at $0.357, indicating further losses could be forthcoming. In contrast, after reaching the $0.36 support zone, ADA bounced and climbed 1 cents above it.
Looking forward, Cardano is poised to extend its strong downtrend and continue declining.
In the meantime, negative performances are also seen in other markets, Algorand USD is trading around $0.15 (down $0.004). UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.
Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
Pointing downwards for around a month. ADA has a market cap of 12.44 billion with an average daily volume of 191.81 million.
