Losing streak continues, Cardano lost $0.001 to $0.316 adding to its six consecutive days of drops

Slightly weaker but mostly flat: Cardano is currently trading at $0.316 as it maintains an active range between $0.314 and $0.32.

Cardano's notable support and resistance levels: Cardano could begin to recover as it approaches significant support, now 1 cents away from $0.309. Dipping below could be an indication that further losses are ahead. With regards to technical trend indicators, chart analysis show 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. Momentum evaluation shows that the Relative Strength Index indicates ADA is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Asset volatility analysis shows that ADA's lower Bollinger Band® is at $0.303, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

With market volatility ebbing, the current technical outlook indicates Cardano will remain range-bound for the immediate future.

In the meantime, negative performances are also seen in other markets, after ending today's session at $10.98, Cosmos USD lost $0.339 and is trading around $10.64.

Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is now trading at $1.36. EOS increases 3.84% to trade around $1.16.

ADA is now trading 73.83% below the significant high of $1.21 it set around 11 months ago. Cardano is currently trading with a market cap of 10.97 billion with an average daily volume of 272.16 million.