**Cardano’s Daily MACD Indicator Nears Bullish Golden Cross, Signaling Potential Breakout**
Cardano (ADA) is showing signs of a possible major bullish movement as its daily MACD indicator approaches a golden cross below the zero line. This technical pattern, where the 12-day EMA crosses above the 26-day EMA, often signals a shift from bearish to bullish momentum. Notably, a similar MACD setup appeared in June, triggering a 62% surge in ADA’s price within weeks.
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**MACD Golden Cross and Historical Performance**
Crypto analyst Lark Davis recently highlighted this setup, stating, “Cardano is about to print a MACD golden cross below zero.” Back in June, when ADA hovered around $0.53, the MACD golden cross marked the beginning of a strong upward rally that took the price to $0.93 by July 21. If this pattern repeats, ADA’s current price of $0.641 could potentially climb as high as $1.04.
Additionally, the MACD histogram is showing fading red bars, indicating that bearish momentum is gradually weakening. This combination of signals suggests a bullish crossover might soon act as a catalyst for a price acceleration, supported by Cardano’s past performance during similar MACD formations.
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**Key Resistance Levels Ahead for Cardano**
Despite these promising signs, Cardano faces significant resistance hurdles that must be overcome to sustain any rally. The first major resistance zone lies between $0.74 and $0.77. This range was previously a key support level before October and has since turned into a strong ceiling. Cardano recently tested this area, reaching $0.73 before encountering sharp selling pressure.
If ADA manages to break through this initial barrier, the next resistance to watch is near $0.80. This level coincides with a descending trendline originating from the $1.02 high on August 14. Historically, Cardano has struggled to close above this trendline, which signals persistent seller strength around $0.80. Surpassing both these resistance zones would likely confirm a more robust and sustained uptrend.
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**Price Outlook and Market Implications**
At present, Cardano is trading at $0.641 following a modest 4% correction from its recent upward momentum. A successful move to $0.74 represents a 15.4% increase, while breaking above $0.80 could yield a substantial 24.8% gain from current levels.
To maintain and extend any bullish reversal, ADA must close and hold above these key resistance points. Traders and investors are closely monitoring the MACD golden cross as a vital short-term indicator that may forecast a breakout.
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**Conclusion**
Cardano’s technical outlook appears cautiously optimistic with the daily MACD approaching a bullish golden cross below zero—a historically significant signal. However, overcoming crucial resistance at $0.74-$0.77 and $0.80 is essential for confirming a sustained upward trend. Should these conditions be met, ADA could potentially mirror the strong gains seen in mid-2023, making it a technical setup worth watching closely.
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*Stay tuned for updates as Cardano’s price action and MACD developments continue to unfold.*
https://coincentral.com/cardano-nears-golden-cross-history-suggests-60-upside-potential/
