Cardano (ADA) Gains Traction as Golden Cross Formation Nears

Cardano’s native cryptocurrency, ADA, is showing signs of accelerated bullish momentum as technical indicators point toward an impending golden cross. This key chart pattern, where the 50-day moving average crosses above the 200-day moving average, often signals the beginning of a sustained upward trend. Market analysts are closely monitoring ADA’s price action amid growing network activity and strategic protocol upgrades. The potential golden cross could attract additional institutional interest and reinforce Cardano’s position among top layer-1 blockchain platforms. Traders are advised to watch for confirmation of this technical pattern alongside fundamental developments within the Cardano ecosystem.

Cardano ADX Shows The Uptrend Could Get Stronger

Cardano’s ADX (Average Directional Index) has climbed to 25.97, rising sharply from 17.41 just two days ago. This significant uptick suggests that ADA’s price action is gaining strength, with early signs pointing toward a developing uptrend.

The increase in ADX reflects growing momentum behind the recent moves. That potentially signals that the asset is transitioning out of a low-volatility consolidation phase into a more directional trend.

ADA ADX. Source: TradingView.

The ADX is a technical indicator used to measure the strength—not direction—of a trend, typically on a scale from 0 to 100.

Readings below 20 indicate a weak or non-existent trend, while values above 25 suggest a strengthening trend. With ADA’s ADX now at 25.97, the indicator has crossed the key threshold that separates choppy, indecisive price action from a more structured directional move.

This shift could mean that Cardano is in the early stages of a sustained uptrend, especially if supported by rising volume and other bullish signals in the coming sessions.

ADA Whales Are Buying Again

The number of Cardano whale addresses—those holding between 1 million and 10 million ADA—fell steadily from April 6 to April 12, dropping from 2,418 to 2,384. That market its lowest level since February 2023.

However, a slight rebound occurred yesterday, with the count rising modestly to 2,389.

While this uptick may hint at renewed accumulation, the overall number remains significantly lower compared to recent weeks, suggesting that major holders are still showing caution.

Addresses Holding Between 1 Million and 10 Million ADA. Source: Santiment.

Tracking whale activity is crucial because these large holders can exert considerable influence over price movements due to the sheer size of their positions.

A steady decline in whale wallets typically indicates reduced confidence or profit-taking. On the other hand, an increase can signal accumulation and potential upward pressure on price. Although the latest rebound in ADA whale numbers is a positive sign, the total remains relatively subdued.

This could mean that, despite ADA’s attempts to form an uptrend, large players are not yet fully convinced of its sustainability. This would limit the strength of any immediate breakout unless more whale accumulation follows.

Cardano Could Form A Golden Cross Soon

Cardano’s EMA lines are gradually aligning in a way that suggests a potential golden cross could form soon.

If this crossover is confirmed, it may give Cardano price the momentum needed to test resistance around $0.709.

A successful breakout at that level could push the price higher toward the next target at $0.77.

ADA Price Analysis. Source: TradingView.

However, Cardano remains in a delicate position, currently trading just above two nearby support levels at $0.629 and $0.61. If either of these levels is tested and lost, it could invalidate the bullish setup and trigger renewed selling pressure.

A breakdown below both supports would likely reverse the current momentum, with ADA potentially sliding toward $0.51.