Recently, the cryptocurrency Cardano reached an important technical milestone - its golden cross - establishing a new trend amid short-term price pressure.
Cardano's Golden Cross and Its Significance
Cardano recorded its first weekly golden cross, where the 50-week moving average crossed above the 200-week one, potentially indicating a change in market sentiment after several months of sideways trading. Analyst Mr. Brownstone reported this signal, emphasizing that this is the first occurrence since the cryptocurrency's launch. At the time of publication, the price of ADA was $0.60, positioned below both its 50-day ($0.66) and 200-day ($0.64) moving averages.
Dynamics of Whale Activity
In addition to the technical achievements, there is notable activity from large holders who have accumulated approximately 120 million ADA tokens over the past two weeks, valued at about $3.3 billion at current prices. This accumulation has occurred in addresses holding between 1 million and 10 million tokens. Analyst Ali Martinez highlighted that these groups now control roughly 5.5 billion ADA tokens. Such accumulation can indicate confidence in future price increases but may also lead to rapid profit-taking if market conditions change.
Price Projections for Cardano
Short-term price predictions suggest modest gains, with CoinCodex forecasting a 25% increase to $0.74 by August 8, 2025. However, longer-term projections vary widely, with some analysts targeting $1.33 while others foresee potential gains to $10 during the current market cycle. The disparity in price targets reflects uncertainty about Cardano's ability to maintain momentum beyond the golden cross formation.
Despite the optimistic signal from the recent golden cross, Cardano's short-term price movements depend on clearing key resistance levels. Investor interest sparked by whale activity and technical signals remains strong, but success will ultimately depend on broader market conditions.
