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ADA Price Recovery: Golden Cross Sparks Bullish Momentum for Cardano - Crypto Data Space

ADA Price Recovery- ADA Rebounds with Golden Cross ADA Price Recovery– Cardano (ADA), the 10th largest cryptocurrency by market cap, has formed a golden cross pattern on its hourly chart for the first time...

ADA Price Recovery: Golden Cross Sparks Bullish Momentum for Cardano - Crypto Data Space

ADA Price Recovery: Golden Cross Sparks Bullish Momentum for Cardano

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ADA Price Recovery- ADA Rebounds with Golden Cross

ADA Price RecoveryCardano (ADA), the 10th largest cryptocurrency by market cap, has formed a golden cross pattern on its hourly chart for the first time this August. This technical pattern is typically seen as a bullish signal, occurring when the 50-period simple moving average (SMA) crosses above the 200-period SMA.

On the hourly timeframe, ADA’s 50-hour SMA recently moved above the 200-hour SMA, suggesting a shift in short-term momentum. This crossover indicates that the recent selling pressure might be fading as buyers regain control.

ADA Price Recovery: Golden Cross Sparks Bullish Momentum for Cardano

From Death Cross to Recovery

Earlier in the month, ADA faced downward pressure, dropping to a low of $0.684 on August 2. This decline followed a death cross on the 4-hour chart, where the 50-period SMA moved below the 200-period SMA — a bearish signal. Despite the weak start to the month, Cardano has bounced back, rising over 5.7% in the past 24 hours to $0.80 at the time of writing.

Eyes on the $1 Level

With momentum shifting, traders are now watching key resistance levels at $0.86 and $0.94. A break above these could bring ADA closer to the $1 mark — a level last reached in March following news of a crypto strategic reserve. In July, bulls made a similar attempt, peaking at $0.935 before facing resistance.

Development Updates Support Outlook

In positive fundamental news, Input Output (IO), Cardano’s core development team, received approval for a $71 million treasury allocation. The funding will support network upgrades, including Hydra and Project Acropolis — both aimed at improving scalability and utility. These developments could drive increased developer activity and long-term demand for ADA.

ADA Price Recovery: Golden Cross Sparks Bullish Momentum for Cardano

ADA Price Recovery: Golden Cross Sparks Bullish Momentum for Cardano

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