ADA made its largest single-day jump of $0.4 (0.45%) since November 2022, and is now trading at $0.4.
Technical analysis shows that Cardano is 1 cents away from testing key resistance at $0.411. Peaking above this level could inspire market bulls and open the path to further gains. Technical analysis trend indicators suggest that investors are seeking long positions as Cardano price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Asset volatility analysis shows that Cardano's upper Bollinger Band® is at $0.415, this is a slight indication of a slowdown.
Overall, while ADA has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Other markets are also showing gains as FTX Token soars 9.54% to trade around $1.36. Polkadot climbs 2.3% to trade around $6.7. TRON climbs 1.06% to trade around $0.065.
Cardano has gained 63% since its lowest print of $0.244 earlier this year. ADA has a market cap of 13.90 billion with an average daily volume of 86.37 million.