Cardano (ADA) appears to be aligning multiple bullish technical indicators, hinting at the potential for a significant price breakout. Such a confluence of factors doesn’t occur by mere chance- it stems from critical support levels, trend formations, and momentum shifts that could be setting the stage for a strong upward move. Key Support Holds Firm On the daily chart, ADA’s price has consistently hovered around the 200-day moving average (MA), a long-term technical benchmark currently positioned at $0.7311. This level is more than just a number; it often serves as a crucial gauge of an asset’s broader trend. So far, this support has remained intact, helping ADA register a 5.67% intraday increase, reinforcing its role as a strong foundation for further gains. Cardano (ADA) Chart/ TradingView Golden Cross on the Horizon Beyond the 200-day MA, another notable technical pattern is developing—the 23-day moving average is on the verge of crossing above the 50-day MA. This potential golden cross is considered a powerful signal that short-term bullish momentum is overtaking the longer-term trend. While not a guaranteed indicator of further price appreciation, this formation has historically been associated with significant upward movements in asset prices, making it an essential piece of the bullish puzzle. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 What’s Next for ADA? If this golden cross materializes and the 200-day MA continues to act as a solid floor, ADA could set its sights on the next key resistance levels at $0.85 and, ultimately, $1.00. These price points are significant as they may trigger increased selling pressure. However, if broken, they could pave the way for even stronger bullish momentum. Conversely, if the golden cross fails to form or ADA loses its hold on the $0.70 support, the price may retrace toward $0.65, testing the patience of investors betting on further upside. With critical support levels intact and momentum indicators favoring the bulls , ADA’s price action presents a compelling scenario for traders. While risks remain, the confluence of technical signals suggests that Cardano may be piecing together the perfect setup for a strong breakout. Whether this rally fully unfolds depends on the market’s ability to sustain its current trajectory and push through key resistance zones. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Cardano (ADA) Aligns Key Technical Signals. Is a Major Rally Imminent? appeared first on Times Tabloid .
