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March 05, 2023
Cardano is on a bit of a rollercoaster today: spiking to $0.342 only to drop back to $0.337, now rallying again to $0.339.
Cardano made an initial breakout above its 3 day Simple Moving Average at $0.345, a potential indicator of a newly emerging bullish phase. ADA's lower Bollinger Band® is at $0.327, indicating that the market is oversold and fertile for new buyers. In contrast, ADA could be slowing down soon; it is getting close to the resistance line and is now at $0.344, only 1 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Cardano continues to move higher with technical analysis indicating the trend will continue in the short term.
ADA shows positive signs, other assets are also on par: FTX Token is up 9.54%. TRON moves up 1.34% to trade around $0.068.
At the same time, UNICORN Token USD withdraws 2.98% to trade around $6.43.
ADA has fallen back around 72.24% over the past 10 months, from a notable high of $1.21. Cardano is currently trading with a market cap of 11.75 billion with an average daily volume of 316.83 million.
