Cardano Forms Golden Cross: Could It Approach $1 Amid Market Optimism?
Main Idea
Cardano's recent golden cross signals a bullish trend, with ADA aiming for $1 as market optimism grows, supported by technical indicators and upcoming resistance levels.
Key Points
1. Cardano (ADA) surged 5.73% in the last 24 hours, reaching $0.80, with upcoming resistance levels at $0.86 and $0.94.
2. A golden cross occurred as the 50-hour SMA crossed above the 200-hour SMA, indicating a bullish trend.
3. ADA previously reached a high of $1.19 on March 2 following the announcement of a crypto strategic reserve.
4. Key projects like Hydra and Project Acropolis by Cardano’s core development team, Input Output, contribute to network demand.
5. The daily SMA 200, a critical momentum gauge, is currently at $0.7245, which ADA has surpassed.
Description
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