Since May, Cardano (Ada) was in a long -term downward trend. That now seems to change. The entire cryptomarkt turns green and also Ada Lift on the success. This results in a historical technical signal, which indicates a possible trend inch.
Cardano course reaches first golden cross
Analyst Mr. Brownstone says on X that Cardano has achieved a weekly ‘Golden Cross’ for the first time. This is a rare technical pattern in which the 50-week advancing average crosses the 200-week line. In other words, the short -term trend breaks above the long -term trend. Such a pattern is considered bullish, because it usually announces a cover from falling to rising trend.
With a course of approximately $ 0.63, there is still room for recovery. In May the digital currency was temporarily worth around $ 0.85. So there is still an increase of around 35 percent to make up for those losses.
Moreover, the price is still under a few important averages. This concerns the 50-day (0.66 dollars) and the 200-day ($ 0.64) on average. A breakthrough above these levels can further confirm optimism, provided that there are no unexpected macro-economic setbacks.
In addition to the optimistic sentiment in the entire market, Ada gets a boost from the launch of Reeve. This is a new platform for business financial reports that is being built on the Cardano Blockchain. Midnight is also planned, a privacy -oriented blockchain that can make unique applications possible. Consider, for example, applications in the medical sector, where personal data must remain private.
Whales buy en masse Cardano (ADA)
It is always interesting to take a look at the whales. These wealthy investors often invest with a long -term perspective. Their behavior can therefore tell something about the future price developments. And here too we see that optimism is confirmed.
The well -known analyst Ali Martinez noted on X that Whales, who have between 1 and 10 million ADA, are back on. In the past week they bought no less than 120 million extra tokens. Together these large investors now have around 5.5 billion Cardano tokens. In the current race this amounts to around $ 3.47 billion.
Source: https://newsbit.nl/cardano-behaalt-eerste-golden-cross-wat-betekent-dit-voor-de-koers/
