Key Notes
- Cardano is currently trading at $0.6441, after recording a price decline of 3.29%.
- The Moving Average Convergence Divergence (MACD) indicator suggests that the coin may print a golden cross.
- Last time this signal was seen, the ADA price rose by 60%.
Cardano
ADA
$0.66
24h volatility:
0.9%
Market cap:
$24.19 B
Vol. 24h:
$1.12 B
price has sustained its mild downturn as it lost almost 4% of its previous price level. This does not align with the expectation for the month of “Uptober,” when most digital assets are expected to surge in value.
However, market observers are quite optimistic that this bear market will not last, especially after considering historic data and the Moving Average Convergence Divergence (MACD) indicator.
Cardano Price Can Repeat History With Golden Cross
The ADA price was trading at $0.6441, down by 3.29% decline over the last 24 hours.
Coincidentally, the broader cryptocurrency industry is facing a downturn with top coins like Bitcoin
BTC
$111 077
24h volatility:
0.2%
Market cap:
$2.21 T
Vol. 24h:
$66.02 B
going way below their all-time high (ATH). ADA is coming from three successive days of persistent price uptrend.
Unfortunately, the altcoin has now corrected almost 4% on sustained bearish sentiment. On analyzing the MACD indicator, Lark Davis, a top crypto analyst, identified that there is strong optimism that the Cardano price will recover soon and hit a new high.
In his words, “Cardano is about to print a MACD golden cross below zero” on the daily chart. The last time such a scenario was seen, the ADA price gained over 60%. This was in June when the price consolidated around the $0.53 support area. Not too long after the cross, the token peaked at $0.93 on July 21.
However, Davis noted that the coin will need to overpower a resistance zone around $0.74 to $0.77. Recall that ADA’s price presently lingers around $0.64, which is still a considerable distance from the stated resistance zone.
Should ADA eventually print the golden cross, the coin could see the much-anticipated price rally to $0.9.
Bitcoin Hyper Presale Hits $24.43M in Funding
ADA is not the only digital asset turning heads. Bitcoin Hyper (HYPER) is generating serious buzz thanks to its growing reputation among retail investors.
This Layer-2 BTC project is packed with potential and built for investors who are ready to embrace high-risk, high-reward opportunities. With its strong market presence and promising outlook, HYPER is earning recognition as one of the best penny crypto to buy in 2025.
Current Presale Stats:
Current Price: $0.013145
Amount Raised So Far: $24.43 million
Ticker: HYPER
Participation in the presale can be done via ETH, BNB, USDT, or credit card. Make sure you check out the official site to stay updated with the Bitcoin Hyper launch date.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
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Source: https://www.coinspeaker.com/cardano-eyes-0-90-retest-macd/
