Cardano (ADA) Poised for Bullish Surge with Golden Cross, Affirms Crypto Analyst Zach Humphries
Entrepreneur and crypto investor Zach Humphries highlights Cardano’s (ADA) potential for a substantial rally in a recent YouTube analysis. The focal point is the emergence of a golden cross on Cardano’s chart, a bullish signal in cryptocurrency analysis.
A golden cross occurs when the 50-day exponential moving average (ema) surpasses the 200-day ema in an uptrend, traditionally indicating the onset of an upward trend. Humphries credits Cardano’s recent price surge to deliberate blockchain upgrades and recognises founder Charles Hoskinson’s impactful role.
Humphries aligns Cardano’s bullish momentum with a broader positive sentiment in the altcoin market, noting a resurgence of capital and heightened demand. The Moving Average Convergence Divergence (MACD) supports this outlook, revealing increased buying pressure.
MACD signals, including lines and histograms, indicate a favourable environment for the Golden Cross formation, reinforcing the bullish sentiment. Humphries anticipates the golden cross to act as a catalyst, potentially propelling Cardano towards retesting the yearly high of $0.4625, despite the current trade at $0.3601.
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