Cardano (ADA) Shows Signs of Recovery with Golden Cross Formation Amid Cautious Market Outlook
Main Idea
Cardano (ADA) shows signs of a bullish reversal with a golden cross formation on the three-hour chart, but low trading volume raises concerns about a potential false breakout.
Key Points
1. Cardano’s price rose 2.22% to $0.7403, breaking out of oversold territory as indicated by the RSI at 46.12.
2. The golden cross, a bullish technical indicator, occurs when the 9-day moving average crosses above the 26-day moving average.
3. Trading volume remains low at $710.93 million, down 30.74%, which could pose a risk of a false breakout.
4. Market experts remain cautiously optimistic, with price targets of $3 or even $6.25 within the current cycle.
5. Traders are advised to monitor volume and price action closely for confirmation of the breakout.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Cardano (ADA) has
Latest News
- Top Trader Hyper Exits All ETH Long Positions with $15,072.98 Profit2025-08-04 17:17:28
- Chainlink Data Streams Could Enhance Real-Time Pricing for Tokenized U.S. Equities and ETFs Across Blockchains2025-08-04 17:14:26
- CoinShares Files for Solana Staking ETF Amid Growing Interest and Redemption Risk Considerations2025-08-04 17:12:42
- India’s Reported Bitcoin Holdings Face Scrutiny Amid Strong Retail Adoption and Regulatory Challenges2025-08-04 17:06:39
- Hyper Reduces Ethereum Long Position by $5.25M Despite Highest Win Rate2025-08-04 16:58:21