Cardano up $0.007 to $0.393 building up on its five days of gains

Cardano goes up to $0.393 after dipping down to $0.385 earlier.

With regards to technical trend indicators, chart analysis show that Cardano made an initial breakout above its 10 day Simple Moving Average at $0.387, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that ADA's upper Bollinger Band® is at $0.409, this is a slight indication of a slowdown. Following today's trading session, chart analysis suggests Cardano could be slowing down soon as it approaches resistance at $0.394. Of course, crossing it might suggest further gains are ahead.

Overall, the technical outlook suggests ADA is likely to remain muted for the immediate future, with no clear-cut direction.

Cardano shows positive signs, other assets are also on par: FTX Token is up 9.54% to $1.36. Dogecoin gained 2.76% and is now trading at $0.084. Bitcoin gained 1.8% and is currently trading at $28,450.

Cardano has shed $0.659 points and is languishing 63.07% lower over the past year, leaving its yearly highs around $1.04 in the rear-view mirror. ADA has a market cap of 13.65 billion with an average daily volume of 367.68 million.