Cardano (ADA) has been showing strong growth lately, nearing the key $1 mark. Recent analysis indicates the formation of a golden cross, which may lead to further increases.
What the Golden Cross Means
The golden cross is a bullish signal that often marks the onset of an uptrend. For ADA, this is not the first occurrence. The last golden cross formed in late 2023 triggered an explosive 236% rally, as the price of Cardano surged from around $0.30 to nearly $1 within weeks.
Cardano Chart Setup
On the weekly chart, ADA is trading around $0.95. The price has successfully pushed above a yellow resistance trendline that capped growth for more than half a year, which is a positive signal. The golden cross reinforces this, as the short-term moving average crossing above the longer one often indicates growing momentum.
What Traders Are Watching Next
If ADA can hold above $0.90 and break past $1.00, analysts believe this could open the door to larger bullish moves. The next major resistance is between $1.20 and $1.30. However, if Cardano fails to maintain support near $0.90, it could lose momentum and test lower levels.
For now, Cardano appears bullish. With the golden cross and a breakout above long-term resistance, traders are asking: will Cardano repeat its historic triple-digit rally?
