ADA posts light gains on a low-volatility day, ranging between $0.348 – $0.355 and is now at $0.355.
Cardano made an initial breakout above its 200 day Simple Moving Average at $0.351, a potential indicator of a newly emerging bullish phase. ADA's lower Bollinger Band® is at $0.349, indicating that the market is oversold and fertile for new buyers. On the other hand, note that ADA could be slowing down soon; it is getting close to the resistance line and is now at $0.37, only 2 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Cardano continues to move higher with technical analysis indicating the trend will continue in the short term.
Cardano shows positive signs, other assets are also on par: FTX Token leaps up 9.54% to trade around $1.36. Having closed the previous session at $0.078, TRON is up 0.71% today to currently trade at around $0.079.
Meanwhile, UNICORN Token USD closed at $6.43 (down 2.98%).
Cardano has fallen back around 44.49% from the significant high of $0.633 set 11 months ago. Cardano is currently trading with a market cap of 12.38 billion with an average daily volume of 174.55 million.