Cardano cryptocurrency trades up $0.008, approximately 2% higher this afternoon

After closing at $0.389 today, Cardano began today at $0.389 with significant bullish sentiment driving Cardano's price action higher. So far today, price action has drawn out a distinct $0.388 to $0.398 range.

Cardano's upper Bollinger Band® is at $0.41, this is a slight indication of a slowdown. Cardano could be slowing down soon as it approaches resistance at $0.4. Of course, crossing it might suggest further gains are ahead.

Overall, looking at the technical analysis landscape, it seems Cardano is likely to reverse course and start pointing down in the short term.

ADA shows positive signs, other assets are also on par: FTX Token gained 9.54% and is currently trading at $1.36. Having closed the previous session at $0.095, Dogecoin is up 2.76% today to currently trade at around $0.098. Having closed the previous session at $1,870, Ethereum is up 2.3% today to currently trade at around $1,912.83.

ADA reached a significant high of $1.15 around a year ago but has lost 66.29% since then. ADA is currently trading with a market cap of 13.79 billion with an average daily volume of 389.29 million.