- Cardano’s golden cross signals potential for a $3.48 price surge.
- ADA’s recent rally suggests bullish momentum and significant future gains.
- RSI indicates ADA may face correction, but bullish trend persists.
Cardano (ADA) is showing signs of a potential price surge, with the golden cross formation on its chart suggesting a major rally ahead. This technical indicator is one of the leading indicators of bullish momentum, and it is the reason that the market is becoming optimistic again. Many people are speculating that ADA will soon reach a price of $3.48.
A golden cross is a point at which a short-term moving average moves above a long-term moving average. In the ADA case, the nine-day moving average has moved above the 21-day moving average, indicating a reversal of the bearish trend. This indicates that ADA might continue to rally, which may push its price to new highs.
The price of ADA is $0.87, and the cryptocurrency has risen 12.6 percent in the past 24 hours. ADA touched an all-time high earlier today of $0.88 and has since pulled back a little to its present level.
The technical support is located at $0.8098, which is the 23-day moving average. If ADA is able to sustain above this mark, it can easily reach the $1 mark.
Nonetheless, investors must take into account the ADA’s Relative Strength Index (RSI), which currently stands at 70.3. This implies that the asset is approaching overbought levels, which may cause a possible short-term correction.
Nevertheless, the bullish trend has not changed due to investors’ higher interest. The trading volume of ADA has increased by over 102 percent to hit a 24-hour figure of $2.5 billion, indicating the increasing demand for the cryptocurrency.
Source: Tradingview
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Historical Trends Suggest Significant Gains for ADA
Looking at historical trends, the golden cross has been a precursor to significant price gains for Cardano. In November 2024, a golden cross signaled a 300 percent growth in ADA, seeing the price rise to $1.32. In this regard, a lot of people are currently paying attention to whether ADA will be able to repeat that spectacular rally.
Should ADA experience a similar 300 percent growth with its current price of $0.87, it would have the potential to reach $3.48. This would be an unbelievable milestone on the part of Cardano, which would attract more investors’ attention.
This optimism is also being driven by the anticipated exposure to cryptocurrency through the upcoming Cardano ETF, where many expect to see greater exposure to cryptocurrency. The future is bright as ADA has a good bullish indication of the golden cross, with more trading volumes as the day progresses.
Should the trend continue, ADA could reach new heights, setting a path towards the $3.48 target that many investors are now eyeing.
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