Mixed sentiment leads Cardano cryptocurrency to trade sideways; establishes tight $0.34 to $0.344 range

Without a clear-cut direction, Cardano is trading around $0.342 and ranging between $0.34 and $0.344.

Technical analysis trend indicators suggest 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. According to asset volatility analysis, Cardano's upper Bollinger Band® is at $0.42 and the lower is $0.33. Chart analysis indicates Cardano is currently alternating around $0.34 with price action moving above and below this key level throughout the session.

Overall, the technical outlook suggests ADA is likely to remain muted for the immediate future, with no clear-cut direction.

While ADA is pretty flat so far today, mixed performances are seen elsewhere as FTX Token surges 9.54% to trade around $1.36. UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session. EOS closed at $1.29 (down 1.68%).

Over the past 10 months, ADA has retreated 71.76% from a noteworthy peak of $1.21. Cardano is currently trading with a market cap of 11.87 billion with an average daily volume of 317.59 million.