Bearish ADA currently $0.003 lower after trading as high as $0.373

Cardano is grinding lower from $0.372 to $0.369, shedding $0.003 (0.82%) today.

Cardano made an initial break below its 10 day Simple Moving Average at $0.368, a possible indication of a forthcoming negative trend. ADA's upper Bollinger Band® is at $0.396 which indicates a further downward move may follow. On the other hand, note that ADA could begin to recover as it approaches significant support, now 1 cents away from $0.366. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts Cardano to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Cardano is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are also seen in other markets, UNICORN Token USD descends 2.98% to trade around $6.43.

Positive performances can be seen by looking at other markets as FTX Token added 9.54% to its value, now trading at $1.36. Litecoin is up 2.2% to $92.43.

Pointing downwards for around a month. Cardano has a market cap of 12.86 billion with an average daily volume of 214.44 million.