After three days of persistent declines, ADA stabilises around $0.434

ADA is now trading at $0.434 after tracing out a steady $0.43 – $0.435 range today.

Cardano's upper Bollinger Band® is at $0.456, suggesting that a downward move may follow. On the other hand, note that Cardano bounced after reaching the $0.429 support zone, climbing 1 cents above it.

Despite the market lacking direction, technical chart analysis strongly suggests ADA is positioned for a downward move in the near term.

While Cardano is pretty flat so far today, mixed performances are seen elsewhere as FTX Token leaps up 9.54% to trade around $1.36. Litecoin is up 3.3%. UNICORN Token USD is up 1.62% to $6.47.

This year has been a bright one for Cardano after trading as low as $0.244 and going on to appreciate by 74.87% year to date. ADA has a market cap of 15.11 billion with an average daily volume of 399.96 million.