Cardano

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<a href="https://u.today/cardano-ada-jumps-7-as-crucial-pattern-sets-to-emerge-on-charts">Cardano (ADA)</a>, the eighth-largest cryptocurrency by market capitalization, has formed a golden cross on its daily chart.
Cardano's daily moving average (MA) 50 has crossed above the moving average (MA) 200, confirming a pattern known as a "golden cross" — a bullish indicator.
A golden cross indicates a long-term bull market going forward and, as such, traders are on the lookout to see if Cardano will sustain its recent advance. <a href="https://u.today/cardano-ada-ecosystem-might-benefit-from-this-new-move-details">Cardano</a> has enjoyed a price increase since the weekend and might mark its third consecutive day of gains if today closes in green.
ADA initiated a price rebound in mid-October after months of dull trading following the emergence of a death cross pattern in June of this year.
Interestingly, after the formation of its death cross in June, Cardano saw a pump to highs of $0.38 before bears seized control. This precedent raises the question of whether bulls can sustain their present climb and suggests that ADA may see a brief correction before continuing its march higher.
<h2 id="what-s-next-for-price">What's next for price?</h2>
Cardano's <a href="https://u.today/cardano-ada-jumps-7-as-crucial-pattern-sets-to-emerge-on-charts">ADA</a> rebounded sharply off lows of $0.35 on Nov. 18, as seen from the long tail on the candlestick. The bulls advanced the rally to today's high of $0.3996, with the next target being the $0.409 high. If bulls can cross this barrier, Cardano might reach $0.46.
<img alt="TradingView" data-entity-type="file" data-entity-uuid="a4ec8db4-a234-4586-bd46-b8e4fb5f06c1" src="https://u.today/sites/default/files/inline-images/20112023%200000.png">ADA/USD Daily Chart, Courtesy: <a href="https://www.tradingview.com/x/edGZxpcn/">TradingView</a>
Instead, if the price falls below $0.35, it will open the door for a probable drop below $0.32. Such a trend suggests that the ADA price may remain in a range trading between $0.24 and $0.38 for some time.
ADA was up 6.16% in the last 24 hours to $0.395 at the time of writing. In the last seven days, the cryptocurrency has gained 6.79%.
According to the latest <a href="https://blog.coinshares.com/volume-158-digital-asset-fund-flows-weekly-report-5e3b8d0ab63b">CoinShares</a> report, digital asset investment products saw inflows totaling $176 million last week, a continuation of consecutive weekly inflows that have lasted eight weeks. Cardano received inflows, along with other altcoins.

Cardano (ADA) Forms Golden Cross: Details

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