Cardano cryptocurrency trades up $0.006, approximately 1.61% higher this morning

Cardano rallies $0.006 (1.61%) deep into the session, trading at $0.373.

With regards to technical trend indicators, chart analysis show that Cardano made an initial breakout above its 21 day Simple Moving Average at $0.367, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that ADA's upper Bollinger Band® is at $0.376, this is a slight indication of a slowdown. As the trading day commences, technical analysis suggests

Notwithstanding ADA's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

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. TRON is up 0.85%. Chainlink USD gained 1.89% and is currently trading at $6.56.

Trending downwards for around a month. Cardano has a market cap of 13.00 billion with an average daily volume of 183.50 million.