Cardano cryptocurrency trades up $0.001, approximately 0.19% higher this morning

Cardano goes up to $0.361, having dipped down to $0.357 earlier.

Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.388, thereby suggesting that Cardano is becoming overvalued. ADA is 1 cents away from testing key resistance at $0.366. Peaking above this level could inspire market bulls and open the path to further gains.

Cardano is likely to reverse course and start pointing downward in the short term.

Other markets are also showing gains as FTX Token rallies 9.54% to trade around $1.36.

Meanwhile, UNICORN Token USD closed at $6.43 (down 2.98%). Litecoin withdraws 1.34% to trade around $91.09.

Trending downwards for around a month. ADA is currently trading with a market cap of 12.59 billion with an average daily volume of 202.89 million.