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February 27, 2023Cardano slides down from $0.368 to $0.36 today, losing $0.008 (2.22%).
Despite being in the red so far in the current trading session, Cardano peaked above its 3 day Simple Moving Average around $0.369 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $0.344, a low enough level to, generally, suggest that Cardano is trading below its fair value. Cardano is oscillating around the $0.363 level serving as support.
Technical analysis indicates that Cardano (currently on a downtrend) might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, after ending today's session at $1.28, MaticNetwork USD lost $0.05 and is trading around $1.23. Chainlink USD is down to $7.2, losing $0.283, after closing at $7.49 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.
ADA reached a significant high of $1.21 around 10 months ago but has lost 69.61% since then. Cardano is currently trading with a market cap of 12.49 billion with an average daily volume of 285.62 million.
