Cardano Lands First-Ever Weekly Golden Cross Amid Whale Accumulation
Cardano's price dropped by 1.54% in the past 24 hours, but technical analysts have identified a rare bullish signal. The cryptocurrency recorded its first-ever weekly golden cross, where the 50-week moving average crossed above the 200-week line. This formation suggests potential upward momentum after months of sideways trading.
The accumulation of approximately 120 million ADA tokens worth $3.3 billion over the past two weeks by large holders has accompanied this technical development. Analysts emphasize the need for price to reclaim key resistance levels before establishing a sustained uptrend.
Whale activity indicates growing institutional interest in Cardano, with addresses holding between 1 million and 10 million ADA tokens controlling roughly $3.3 billion at current prices. Short-term price predictions suggest modest gains, while longer-term projections vary dramatically, ranging from conservative to ambitious targets of $0.74 by August or even $10 during the current market cycle.