ADA posts light gains on a low-volatility day, ranging between $0.405 – $0.413 and is now at $0.41.
Despite posting gains so far today, Cardano slid below its 5 day Simple Moving Average at $0.406 in earlier trade — an early indicator that a negative trend could be emerging. Cardano's upper Bollinger Band® is at $0.426, this is a slight indication of a slowdown. ADA could be slowing down soon as it approaches resistance at $0.416. Of course, crossing it might suggest further gains are ahead.
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.
ADA shows positive signs, other assets are also on par: Dogecoin is up 13.34%. Having closed the previous session at $6.62, Polkadot is up 0.93% today to currently trade at around $6.68.
At the same time, after ending today's session at $0.464, Ripple lost $0.004 and is trading around $0.46.
After hitting an important low of $0.34 approximately 12 days ago, ADA has bounced back 19.24% since. Cardano has a market cap of 14 billion with an average daily volume of 81.52 million.