Cardano cryptocurrency trades up $0.012, approximately 3.22% higher going into tomorrow

Tentatively higher from an earlier low of $0.382, ADA is up to $0.395 today, adding $0.012, or 3.22%, to today's closing price of $0.383.

Cardano made an initial breakout above its 3 day Simple Moving Average at $0.388, a potential indicator of a newly emerging bullish phase. Having stamped out a session range of $0.382 to $0.4, Fibonacci-inclined Cardano traders were highly concentrated around active Fibonacci resistance at $0.4. On the other hand, note that Cardano price action is currently oscillating around the $0.4 resistance level with prices moving above and below several times during the session.

Examining the technical analysis landscape, ADA might continue its downtrend in the short term.

Other markets are also showing gains as FTX Token gained 9.54% and is currently trading at $1.36. Having closed the previous session at $0.45, Ripple is up 4.43% today to currently trade at around $0.47. Having closed the previous session at $321.49, Binance Coin is up 2.81% today to currently trade at around $330.52.

Cardano has shed $0.522 points and is languishing 57.71% lower over the past year, leaving its yearly highs around $0.905 in the rear-view mirror. ADA is currently trading with a market cap of 13.75 billion with an average daily volume of 378.48 million.