TL;DR
- Cardano (ADA) has risen 21.4% in 24 hours, reaching $0.677, with a 90% increase in the last month.
- A “golden cross” is forming on ADA’s price chart, which could signal a new bullish rally.
- Charles Hoskinson has gained investor confidence with his participation in a group for cryptocurrency regulatory framework within the Trump administration.
In recent days, Cardano (ADA) has caught the attention of investors due to an impressive surge in its price. The cryptocurrency has risen 21.4% in the last 24 hours, reaching a value of $0.677, which represents an accumulated increase of 90% in the last month. This meteoric rise has placed ADA at levels not seen since March of this year.
Cardano’s bullish momentum is not only due to its recent performance in the market but also to a technical pattern that is beginning to form on its price chart. This pattern is a “golden cross,” a traditionally bullish signal in technical analysis.
This pattern occurs when the 50-day moving average crosses above the 200-day moving average, which has historically preceded significant price increases. The last time this pattern appeared was nearly a year ago, followed by a 120% rise in ADA’s price in the three months after. Analysts believe that, if this trend repeats, Cardano could continue its rally and reach new highs in the short term.
Hoskinson’s Role in Cardano’s Success
ADA’s resurgence has also been fueled by other factors, such as comments from Charles Hoskinson, founder of Input Output Global (IOG). Hoskinson announced his participation in a designated group within the Trump administration to work on creating a regulatory framework for cryptocurrencies. Such announcements build confidence among investors, offering a clearer and more favorable outlook for the development and adoption of the crypto industry.
Despite the correction experienced by other cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), ADA has managed to stay strong, outperforming the general market trend. This behavior has drawn the attention of analysts, who suggest that Cardano has the potential to continue its rise. Some even estimate that, by mid or late 2025, ADA could reach a price of $6, based on historical growth patterns and current projections
