Mixed sentiment leads ADA cryptocurrency to trade sideways; establishes tight $0.363 to $0.367 range

Without a clear-cut direction, ADA is trading around $0.366 and ranging between $0.363 and $0.367.

A study of ADA's historical price actions shows Cardano is approaching key support, around 1 cents away from $0.356. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend-following investors would be interested to note that ADA made an initial break below its 50 day Simple Moving Average at $0.365, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that Cardano's upper Bollinger Band® is at $0.417 and the lower is $0.349.

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

While ADA is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54%. Having closed the previous session at $0.068, TRON is up 1% today to currently trade at around $0.069. Tezos USD closed at $1.22 (down 1.49%).

Having set a significant high of $1.21 10 months ago, ADA is trading 69.81% lower. ADA is currently trading with a market cap of 12.67 billion with an average daily volume of 267.53 million.