Cardano's price (ADA) reached an important technical level, confirming a golden cross, which is regarded as a strong bullish signal. This signal suggests potential further price increases.
Cardano Price Confirms Golden Cross
Cardano price has completed a weekly golden cross, where the 50-week moving average crossed above the 200-week. This is historically considered a strong macro bullish signal. The cross comes after the ADA price held above a key support region near $0.56 and reclaimed the $0.63 level, further rising by over 13% to $0.7181. As a result, traders and long-term holders view this golden cross as a shift in market structure.
Breakout of Descending Trendline
Additionally, ADA price has broken out of a multi-week descending trendline and is now trading within a tightening rising wedge. This indicates that bullish control is growing as pullbacks are supported by traders accumulating at $0.60. Support remains strong around $0.59, indicating a new crucial level for ADA.
Fibonacci and ADA's Recovery Targets
Technical analysts pointed out that Cardano price recently bounced off the Fibonacci $0.618–$0.786 support zone, which serves as a historical reversal point. Target levels of $0.9985, $1.2154, and $1.3795 are anticipated, which may confirm sideways movement and strengthen the long-term trend.
According to technical analysis, the price of ADA may continue to build a steady upward trend. The importance of the golden cross and fibonacci support consistently create an optimistic sentiment among traders and long-term investors.
