My lovely people, what should I tell you about Cardano, that thing that many have their eyes on? It turns out that ADA just made a move that has half the trading world with their eyes wide open: its first golden cross on the weekly chart! 🤩 This, my friends, is no small matter. Imagine it as if the crypto universe is giving this little coin a signal of "Upwards, I want to see you!"
The thing about the golden cross: what is that? 🤔
Well, for those who aren't so "in the know" with the technical jargon, a golden cross occurs when the 50-week price average crosses above the 200-week average. In the trading neighborhood, this is like the signal that the price is getting ready for a big celebration, meaning a strong bullish rally. 📈 It's a signal that many await like the rain in May, because it indicates that the trend of ADA could be about to change direction, for the better!
Now, not everything is rosy, you know? Some analysts are keeping a close eye, saying that although the signal is cool, ADA has to break through a few strong resistances before things get really good. When this little cross formed, ADA was around $0.60, and right now it's around $0.62, which is a small push in the last 24 hours. But watch out, it's still below its important moving averages, the 50-day ($0.66) and the 200-day ($0.64). If it manages to close above those levels, hold on tight because the wave of buyers is coming in strong! But if it drops below $0.59, well, then you can really feel the selling pressure. So, let's stay alert! 👀
The whales are getting up to their tricks: Accumulating cash? 🐳💰
And as if the gossip about the golden cross wasn't enough, it turns out that whales (those big-money investors who move the market) have been making their moves with Cardano. They've bought over 120 million ADA tokens in the last few weeks! 😲 This is a clear sign that they believe Cardano is going to rise like foam in the medium term. It's like when the big bosses start pouring money into a business, it's because they see a future! But of course, there's also the risk that these whales will take advantage of any rise to sell and grab their quick profits. That's how the game goes, my people!
The price of ADA has been like a roller coaster lately, one day it goes up, another day it goes down. This has many people wondering if this golden cross is the signal of a boom or just a trick to confuse. Also, we can't forget that the price of cryptocurrencies often moves to the rhythm of Bitcoin, the father of cryptocurrencies. So, the key is to see if ADA can break that barrier of $0.64 in the coming days. If it does, we could be facing a rally that gets us dancing! 🎉
So you all know, my friends, keep an eye on Cardano. This is getting interesting! $ADA
