After closing at $0.384 today, ADA began today at $0.384 with significant bullish sentiment driving ADA's price action higher. So far today, price action has drawn out a distinct $0.381 to $0.39 range.
Visual analysis of Cardano's chart shows that Cardano broke through the $0.386 resistance and climbed above it 1 cents; next resistance level is at $0.389. Trend and momentum analysis indicates that ADA made an initial breakout above its 10 day Simple Moving Average at $0.387, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.405, thereby suggesting that Cardano is becoming overvalued.
Overall, the technical outlook suggests ADA is likely to remain muted for the immediate future, with no clear-cut direction.
Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47.
Meanwhile, Ripple is trading around $0.509 (down $0.004).
Having soared to a high of $1.04 approximately 11 months ago, Cardano is now trading 63.23% lower. Cardano is currently trading with a market cap of 13.48 billion with an average daily volume of 388.41 million.