ADA cryptocurrency trades up $0.006, approximately 1.91% higher this afternoon

Tentatively higher from an earlier low of $0.289, Cardano is up to $0.296 today, adding $0.006, or 1.91%, to today's closing price of $0.29.

Cardano made an initial breakout above its 21 day Simple Moving Average at $0.293, a potential indicator of a newly emerging bullish phase. In contrast, ADA could be slowing down soon as it approaches resistance at $0.297. Of course, crossing it might suggest further gains are ahead.

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

Other markets are also showing gains as FTX Token gained 9.54% and is currently trading at $1.36. UNICORN Token USD is up 7.52% to $5.09.

At the same time, Bitcoin Cash is trading around $207.65 (down $6.65).

Having set a significant high of $0.57 10 months ago, ADA is trading 49.1% lower. Cardano has a market cap of 10.33 billion with an average daily volume of 316.27 million.