Cardano (ADA) Eyes $1 Amid Golden Cross and ETF Approval Buzz๐ฐ
Cardano (ADA) is gaining bullish momentum, trading at approximately $0.87. The token is approaching a golden cross formation, where the 50-day moving average crosses above the 200-day moving average, signaling potential for further gains. This pattern has historically preceded significant price increases, with previous instances leading to rallies of up to 120% .
๐ Key Market Indicators:
Current Price: $0.87
24-Hour Change: +0.13%
Market Cap: Approximately $30 billion
24-Hour Volume: Around $2.5 billion
Analysts are eyeing the $0.82โ$0.83 resistance zone, with a potential breakout targeting the $1.00 level in the coming weeks. A sustained close above $0.85 could pave the way for a rally toward $1.20 .
๐ฎ Looking Ahead: The likelihood of a Cardano ETF approval is increasing, with prediction markets indicating an 85% chance of approval in 2025. Such an event could significantly boost institutional interest and drive ADA's price higher .
๐ฌ Join the Conversation: Stay informed and engage with the community on Binance Square as we monitor Cardano's journey toward new heights. Share your insights and predictions with fellow traders.