ADA trades at $0.325 after gaining $0.003 (0.93%).
Cardano price action is currently oscillating around the $0.326 resistance level with prices moving above and below several times during the session. A "bearish engulfing" pattern — a scenario when a larger red candle engulfs a smaller green candle, at the top of a prevailing uptrend. Typically this is a signal of lower prices in the near term. Cardano's upper Bollinger Band® is at $0.331, this is a slight indication of a slowdown.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest ADA is set for a reversal in the coming days.
Cardano shows positive signs, other assets are also on par: Litecoin is up 7.75%. Having closed the previous session at $111, Bitcoin Cash is up 2.7% today to currently trade at around $114. FTX Token gained 2.96% and is now trading at $1.43.
ADA reached a significant high of $1.59 around 10 months ago but has lost 79.78% since then. Cardano is currently trading with a market cap of 11.21 billion with an average daily volume of 48.73 million.