Mixed sentiment leads Cardano cryptocurrency to trade sideways; establishes tight $0.396 to $0.398 range

Without a clear-cut direction, ADA is trading around $0.397 and ranging between $0.396 and $0.398.

As the day gets underway, chart analysis suggests Cardano is approaching key support, around 1 cents away from $0.395. 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 and momentum analysis indicates that ADA made an initial break below its 10 day Simple Moving Average at $0.397, a possible indication of a forthcoming negative trend. Asset volatility analysis shows that Cardano's upper Bollinger Band® is at $0.454 and the lower is $0.368.

Overall, while Cardano has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Over the past 11 months, ADA has retreated 55.82% from a noteworthy peak of $0.897. ADA is currently trading with a market cap of 13.80 billion with an average daily volume of 384.89 million.