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March 11, 2023
Trading lower, ADA is currently down $0.008 as it ranges between $0.306 and $0.323 so far today.
Cardano reversed direction at $0.3 support zone and climbed 1 cents above it. Despite being in the red so far in the current trading session, Cardano peaked above its 5 day Simple Moving Average around $0.319 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $0.294, a low enough level to, generally, suggest that ADA is trading below its fair value.
Technical analysis indicates that ADA's current downtrend might soon change course and start climbing up in the short term.
In the meantime, negative performances are also seen in other markets, EOS is down to $1, losing $0.045, after closing at $1.04 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. Having closed the previous session at $0.057, TRON is up 2.78% today to currently trade at around $0.059.
Having soared to a high of $1.21 approximately 11 months ago, ADA is now trading 73.95% lower. Cardano has a market cap of 10.69 billion with an average daily volume of 287.23 million.
