Cardano up $0.001 to $0.268 building up on its four days of gains

Currently trading at $0.268, ADA remains range-bound between $0.265 and $0.268.

Cardano could be slowing down soon; it is getting close to the resistance line and is now at $0.273, only 1 cents away. Crossing the resistance line could, however, suggest that further gains are ahead. Despite posting gains so far today, Cardano slid below its 5 day Simple Moving Average at $0.265 in earlier trade — an early indicator that a negative trend could be emerging.

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

Other markets are also showing gains as FTX Token gained 9.54% and is now trading at $1.36. Bitcoin Cash is up 0.95%.

Meanwhile, TRON moves 0.43% to trade around $0.072.

ADA reached a significant high of $0.57 around 10 months ago but has lost 53.17% since then. Cardano has a market cap of 9.34 billion with an average daily volume of 305.92 million.