Is it the end of ADA's rally? After four days of gains, it is down by 1.56% today

Cardano is grinding lower from $0.41 to $0.404, shedding $0.006 (1.56%) today.

Cardano made an initial break below its 21 day Simple Moving Average at $0.407, 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 $0.403. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts ADA 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, Binance Coin is down to $322.46, losing $8.26, after closing at $330.72 in the preceding trading session. After ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43.

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

ADA has managed to gain 65.38% so far this year despite trading at lows around $0.244 previously. ADA has a market cap of 14 billion with an average daily volume of 364.91 million.