Cardano cryptocurrency trades up $0.001, approximately 0.3% higher this afternoon

Cardano is up to $0.378 today after closing today at $0.377. Overall, a 0.3% move or $0.001 today.

Cardano could be slowing down soon as it approaches resistance at $0.383. Of course, crossing it might suggest further gains are ahead. Although up today, early price action saw Cardano dropping below its 10 day Simple Moving Average at $0.374 — an early indicator that a new downward trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.386, thereby suggesting that Cardano is becoming overvalued.

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.

Cardano shows positive signs, other assets are also on par: FTX Token soars 9.54% to trade around $1.36.

Meanwhile, UNICORN Token USD closed at $6.43 (down 2.98%). After ending today's session at $1,888.51, Ethereum lost $17.51 and is trading around $1,871.

Trending downwards for around a month. ADA is currently trading with a market cap of 13.21 billion with an average daily volume of 163.80 million.