ADA up $0.002 to $0.289 building up on its four days of gains

Cardano posts light gains on a low-volatility day, ranging between $0.287 – $0.289 and is now at $0.289.

Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.3, thereby suggesting that Cardano is becoming overvalued. Cardano is 1 cents away from testing key resistance at $0.3. Peaking above this level could inspire market bulls and open the path to further gains.

After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest ADA is set for a reversal in the coming days.

ADA shows positive signs, other assets are also on par: FTX Token added 9.54% to its value, now trading at $1.36. Dogecoin is up 4.97% to $0.07.

At the same time, Bitcoin Cash closed at $299.23 (down 2.44%).

Cardano has shed 28.11% over the past three months. ADA is currently trading with a market cap of 10 billion with an average daily volume of 316.50 million.