Bearish Cardano currently $0.019 lower after trading as high as $0.443

Cardano drops from $0.443 to $0.423, losing $0.019 (4.36%) today.

Cardano made an initial break below its 3 day Simple Moving Average at $0.441, a possible indication of a forthcoming negative trend. In contrast, ADA could begin to recover as it approaches significant support, now 1 cents away from $0.432. Dipping below could be an indication that further losses are ahead.

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

In the meantime, negative performances are also seen in other markets, EOS is down to $1.16, losing $0.061, after closing at $1.22 in the preceding trading session. Ripple is down to $0.513, losing $0.02, after closing at $0.533 in the preceding trading session.

Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.

Cardano hit a significant low of $0.244 around 3 months ago, but has since recovered 81.5%. ADA has a market cap of 14.73 billion with an average daily volume of 401.16 million.