Cardano Price Shows Bullish Signs with Golden Cross and Breakout – Can it Hit $1?

Cardano (ADA) is experiencing a bullish surge, signaled by a golden cross on the hourly chart. This technical indicator indicates a potential upward trend as short-term moving averages surpass long-term ones. The price has surged to $0.7857, up 7% from its low of $0.72. Trading volume is also significantly increased, nearly doubling to $1.78 billion. The recent breakouts from the previous bearish flag pattern on the 4-hour chart, which had been consolidated since April 24th and 25th at around $0.7452, adds further support for this bullish momentum. 1 1/2 years ago, a similar signal occurred and led to a sharp rally in ADA’s price.