ADA cryptocurrency trades up $0.003, approximately 1.24% higher this afternoon

Cardano trades at $0.284 after gaining $0.003 (1.24%).

Trend analysis indicates that Cardano made an initial breakout above its 21 day Simple Moving Average at $0.285, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, ADA's upper Bollinger Band® is at $0.3, this is a slight indication of a slowdown. Technical chart analysis shows Cardano could be slowing down soon as it approaches resistance at $0.288. Of course, crossing it might suggest further gains are ahead.

All in all, the technical analysis suggests Cardano has no clear-cut direction.

Other markets are also showing gains as FTX Token gained 9.54% and is currently trading at $1.36. Bitcoin Cash improves 4.25% to trade around $232.38. Having closed the previous session at $0.074, TRON is up 1.62% today to currently trade at around $0.075.

Cardano reached a significant high of $0.57 around 10 months ago but has lost 50.84% since then. Cardano is currently trading with a market cap of 9.91 billion with an average daily volume of 316.76 million.