Key Insights
- Cardano’s golden cross on the three-hour chart signals sustained bullish momentum with ADA nearing the crucial $1 price point.
- ADA’s trading volume jumped over 102% in 24 hours, reaching $2.5 billion as market sentiment turns increasingly optimistic.
- Technical support at $0.8098 aligns with the 23-day moving average, underpinning the potential for a continued upward trend.
Cardano is holding its bullish stance as a golden cross pattern extends on its three-hour chart, pushing ADA closer to the one-dollar mark. The cryptocurrency is currently trading at $0.87, marking a 12.6 percent increase in the last 24 hours. Earlier today, the price touched $0.88 before retreating slightly to its present level.
The golden cross, formed when the nine-day moving average rises above the 21-day moving average, is pointing to the potential for further gains. This crossover is widely viewed as a signal of a bullish trend reversal. ADA’s immediate technical support lies near $0.8098, which aligns with the 23-day moving average, offering a strong base for price stability.
Market Momentum and Volume Surge
Market momentum has been reinforced by a sharp increase in trading activity. ADA’s 24-hour trading volume rose by more than 102%, reaching $2.5 billion. This heightened activity underscores the renewed investor interest in Cardano as prices build strength.
The Relative Strength Index for ADA is currently at 70.3, which indicates overbought territory. While this suggests a possible short-term pullback, the prevailing sentiment remains positive. Investors are closely watching to see if ADA can maintain its position above key support levels.
Historical Rally Offers Perspective
Cardano previously experienced a sharp rally following a golden cross in November 2024, when its price surged from $0.325 to $1.32 by early December, a gain of 300%. Market observers are monitoring current conditions for signs of a similar performance, particularly with anticipation surrounding a potential Cardano ETF.
If ADA sustains its current levels above the key support, analysts see a strong possibility for the price to test and potentially surpass the $1 milestone. With technical signals, trading momentum, and investor participation aligning, Cardano remains positioned for potential new highs in the near term.
