Cardano Extends Golden Cross Rally As ADA Targets One Dollar Level

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.

Source: TradingView

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.