Losing streak continues: ADA down $0.001 to $0.364 adding to its five days of losses

Slightly weaker but mostly flat: Cardano is currently trading at $0.364 as it maintains an active range between $0.364 and $0.37.

Technical analysis of Cardano's past price action reveals multiple support and resistance levels: Cardano could begin to recover as it approaches significant support, now 1 cents away from $0.354. Dipping below could be an indication that further losses are ahead. Trend-following investors would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $0.362, a low enough level to, generally, suggest that ADA is trading below its fair value.

All in all, the technical analysis suggests Cardano has no clear-cut direction.

Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Bitcoin Cash increases 3.78% to trade around $115.45. EOS gained 1.36% and is now trading at $0.918.

4 months ago, ADA fell to a low of $0.244 but has since recovered 49.87%. ADA is currently trading with a market cap of 12.69 billion with an average daily volume of 294.79 million.