ADA continues a five day positive streak and is up $0.008 to $0.294

Cardano went up to $0.304 only to drop back to some of the way and is now trading at $0.294.

Cardano made an initial breakout above its 21 day Simple Moving Average at $0.3, a potential indicator of a newly emerging bullish phase. Despite this, although Cardano is appreciating today after rising as high as $0.304, price action is now slowing and consolidating around 2 cents below the $0.292 resistance level.

Overall, looking at the technical analysis landscape, it seems Cardano might continue pointing upwards in the short term.

ADA shows positive signs, other assets are also on par: FTX Token is up 9.54% to $1.36.

At the same time, Binance Coin slumps 2.15% to trade around $243.65. Solana is down to $16.86, losing $0.392, after closing at $17.25 in the preceding trading session.

Having set a significant high of $0.57 10 months ago, ADA is trading 49.72% lower. Cardano is currently trading with a market cap of 10.27 billion with an average daily volume of 306.52 million.