Cardano (ADA) Golden Cross Finally Confirmed
Cardano (ADA) has recorded a significant spike in its price, rising from $0.6856 to over $0.72 in the last 24 hours. The surge comes as the ninth-largest cryptocurrency by market capitalization recently formed a golden cross on the daily chart. This signals a shift in trend for the asset.
The Moving Average Cross indicator on the daily chart marks ADA’s Golden Cross formation. Notably, the short-term 9-day MA has now crossed above the longer-term 20-day MA.
This development is usually a bullish signal, as the golden cross suggests ADA has potential upward price momentum and a possible shift toward a long-term bull market. This usually comes with strong buying pressure and investor optimism.
