ADA cryptocurrency trades up $0.008, approximately 3.03% higher this afternoon

Tentatively higher from an earlier low of $0.274, Cardano is up to $0.283 today, adding $0.008, or 3.03%, to today's closing price of $0.275.

Trend-focused traders would be interested to note that Cardano made an initial breakout above its 5 day Simple Moving Average at $0.278, a potential indicator of a newly emerging bullish phase. Momentum evaluation shows that the Relative Strength Index indicates Cardano is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. A study of Cardano's chart reveals various key levels to watch: after reaching the known resistance zone beginning at $0.285, ADA price action retreated approximately 1 cents.

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

Cardano shows positive signs, other assets are also on par: Ripple jumps 6.56% to trade around $0.56. FTX Token is up 9.54%. Binance Coin improves 2.41% to trade around $236.64.

Cardano is now trading 51.77% below the significant high of $0.57 it set around 9 months ago. Cardano has a market cap of 9.89 billion with an average daily volume of 294.61 million.