Losing streak continues: Cardano down $0.002 to $0.366 adding to its five days of losses

As the current session draws to a close, Cardano remains in the $0.365 – $0.368 range after dropping 0.65%.

Cardano's upper Bollinger Band® is at $0.391 which indicates a further downward move may follow. Despite this, ADA could begin to recover as it approaches significant support, now 1 cents away from $0.364. Dipping below could be an indication that further losses are ahead.

Overall, the technical analysis landscape suggests that on the balance of probability, ADA is expected to maintain its bearish bias.

In the meantime, negative performances are also seen in other markets, UNICORN Token USD closed at $6.43 (down 2.98%).

Other assets are showing positive performances as FTX Token is up 9.54%. TRON goes up 2.58% to trade around $0.072.

On a negative trend for around a month. ADA is currently trading with a market cap of 12.75 billion with an average daily volume of 208.55 million.