Cardano Price Soars With Bullish Crossover, Notes 12.2% Weekly Gains
The post Cardano Price Soars With Bullish Crossover, Notes 12.2% Weekly Gains appeared on BitcoinEthereumNews.com.
Cardano price bullish crossover seen on the weekly chart, indicated potential upside momentum. The 21-week EMA crossed above the 55-week EMA at $1.09. Historically, the last similar event happened in February 2021 led to a 400% price surge. The 21-week EMA values were $0.721, the 55-week were $0.568, and the 169-week were $0.548, reflecting gradual upward alignment. Cardano prices moved from a low of $0.82 to a high of $1.12, closing at $1.09, with increased volumes. This crossover suggested sustained bullish sentiment, but if the pattern mirrors past performance, ADA prices could rally significantly over the medium term. ADA/USDT weekly chart | Source: Trading View Strong support exists near $0.83, while initial resistance lies at $1.20. A breakout above resistance may validate further upward momentum. If the market maintains support it could challenge bullish projections. This alignment positions ADA at a critical juncture. While historical trends offer optimism, external factors will likely influence the trajectory with Caution as market conditions evolve. – Advertisement – Cardano Price Leads Weekly Crypto Gains Cardano price achieved the top spot in weekly returns out of the top 10 cryptocurrencies, delivering an impressive 12.2% gain. XRP followed closely with an 11.9% return, while Solana secured third place with a 10.5% weekly increase. Dogecoin posted 8.6%, while Avalanche gained 5.1%, rounding out the top five. Ethereum saw a moderate 3.6% gain, while Binance Coin increased by 2.6%. Bitcoin, despite its dominance with a $1.92 trillion market cap, posted a modest 1.3% return. Toncoin was the only asset in the negative, with a -1.4% weekly decline. Weekly crypto gains | Source: X Cardano’s rise reflected strong investor confidence, pushing its year-to-date return to 14.2%, supported by a $39.1 billion market cap. XRP and Solana also displayed strong annual returns at 15.9% and 9.7%, respectively. Market sentiment remained…
Filed under: News - @ January 5, 2025 7:10 pm