Cardano ended the previous session at $0.286; currently trading at $0.271

Cardano crashes after losing $0.015, breaking down to $0.271.

Concerning technical analysis and more specifically, trend indicators, Cardano made an initial break below its 21 day Simple Moving Average at $0.281, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $0.254, a low enough level to, generally, suggest that ADA is trading below its fair value. A study of ADA's historical price actions shows Cardano broke through the $0.282 support line and dropped 1 cents below it.

With market volatility ebbing, the current technical outlook indicates Cardano will remain range-bound for the immediate future.

In the meantime, negative performances are also seen in other markets, Algorand USD closed at $0.119 (down 6.84%). EOS is down to $0.688, losing $0.032, after closing at $0.72 in the preceding trading session.

Other assets are showing positive performances as FTX Token gained 9.54% and is now trading at $1.36.

Cardano is now trading 22.3% below its 3-month high of $0.57. Cardano has a market cap of 9.45 billion with an average daily volume of 314.47 million.