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May 30, 2023
After closing at $0.379 today, ADA began today at $0.379 with significant bullish sentiment driving ADA's price action higher. So far today, price action has drawn out a distinct $0.379 to $0.382 range.
Although up today, early price action saw Cardano dropping below its 3 day Simple Moving Average at $0.38 — an early indicator that a new downward trend could be emerging. Cardano's upper Bollinger Band® is at $0.383, this is a slight indication of a slowdown. Cardano is 1 cents away from testing key resistance at $0.384. Peaking above this level could inspire market bulls and open the path to further gains.
Technical analysis of Cardano price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.
Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $0.897, EOS is up 1.31% today to currently trade at around $0.909.
At the same time, UNICORN Token USD slides down 2.98% to trade around $6.43.
Trending downwards for around a month. ADA has a market cap of 13.30 billion with an average daily volume of 181 million.
