Cardano Makes History: Weekly Chart Flashes First-Ever Golden Cross – Bullish Signal Ignites Market
Cardano just triggered a technical event that’ll make chartists drool—the first weekly golden cross in its history. When the 50-week moving average surges above the 200-week, even Wall Street dinosaurs perk up. Here’s why it matters.
The golden cross effect: More than just lines on a chart
This isn’t your average crypto hype cycle. Golden crosses have preceded every major bull run since Bitcoin’s infancy—though of course past performance guarantees exactly nothing in this casino. Traders are now watching whether ADA can convert this technical poetry into price action.
Smart contracts meet smart money?
With Cardano’s ecosystem finally hosting real DeFi projects after years of ‘academic rigor,’ the timing couldn’t be more ironic. Just as TradFi starts flirting with blockchain again, here comes ADA with a textbook buy signal. Cue the institutional FOMO—right after they finish shorting it.
The real test begins now. If history rhymes, this signal kicks off a 6-12 month uptrend. If not? Well, there’s always another cross—just ask the bagholders from 2022.
Golden Cross On Cardano's Weekly Chart
Interestingly, this suggests that Cardano’s momentum is turning positive in the short term, which usually precedes a significant rally. Many analysts also view the indicator as a buy signal in preparation for a bullish price action.
Meanwhile, the analyst agrees that Cardano’s price is better set up for an uptick above the moving averages. For perspective, ADA trades at $0.597, below both the 50-day and 200-day MA, currently at $0.663 and $0.643, respectively.
This aligns with a previous suggestion from analyst MasterAnanda. Specifically, in an earlier post, he shared that cardano needs to reclaim the 34-period exponential moving average (EMA34) and MA200 to turn bullish.
Although Mr. Brownstone did not mention any price target for the impending rally, earlier analyses have identified possible targets for Cardano. A recent TradingView commentary from Arman Shaban suggests that ADA is poised for price growth to $1.33, while Dan Gambardello believes $10 is a realistic target for this cycle.
Whale Traction Fuels Positive Momentum
Moreover, whales are back to buying Cardano, another sentiment booster for enthusiasts. After a period of less traction, large holders have acquired 120 million ADA in the past two weeks, Ali Martinez shared in a recent post.
