End of rally? After four days of gains, ADA is down $0.003 today

Cardano is grinding lower from $0.293 to $0.29, shedding $0.003 (1%) today.

Cardano's upper Bollinger Band® is at $0.303 which indicates a further downward move may follow. Despite this, Cardano could begin to recover as it approaches significant support, now 1 cents away from $0.283. 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 ADA is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are also seen in other markets, Bitcoin Cash closed at $276.46 (down 5.17%). EOS goes down 4.12% to trade around $0.754.

Other assets are showing positive performances as FTX Token rallies 9.54% to trade around $1.36.

Cardano has shed 24.2% over the past three months. ADA is currently trading with a market cap of 10.12 billion with an average daily volume of 266.55 million.