Key Takeaways:

• Golden Cross Confirmed:
  Cardano’s 9-day moving average crossed above its 20-day moving average, confirming a bullish golden cross.
  
• Trading Volume Surge:
  ADA’s trading volume jumped 49.17%, indicating increased market activity following the technical breakout.
  
• Whale Accumulation Strengthens Outlook:
  Large holders expanded their ADA positions, boosting market confidence.

• Resistance and Breakout Targets Identified:
  Immediate resistance levels lie at $0.7289 and $0.76, with further upside targets at $0.82 and $1.10.
  
• Ecosystem Developments and ETF Speculation:
  Completion of the scaling roadmap and rising expectations for a Cardano ETF are adding fundamental strength to the bullish scenario.

Golden Cross Confirmed: A Classic Bullish Indicator

Cardano (ADA) has officially confirmed a golden cross on its daily chart, a key signal that often points to the start of a bullish trend. This pattern forms when a short-term moving average crosses above a longer-term one, suggesting upward momentum could be building.

Source: Tradingview

Key Technical Breakout and Trading Volume Surge

The golden cross was identified as the 9-day moving average moved above the 20-day moving average, a setup that in past cycles has led to notable price gains for ADA.
Following the crossover, ADA’s trading volume spiked by 49.17%, reaching $757.95 million.

Resistance Levels to Watch

Technical analysts are now eyeing resistance at $0.7289 and $0.76.
Breaking through these levels could open the door for ADA to push toward $0.82, with a possible extension up to $1.10 if the momentum continues.

Ecosystem Growth and ETF Speculation Add to Optimism

Recent developments in the Cardano ecosystem are also supporting a more positive outlook.

The project recently completed its original scaling roadmap, a move welcomed by the community.
At the same time, speculation around a possible ADA exchange-traded fund (ETF) is heating up, with approval odds reportedly ranging between 50% – 60% on Polymarket.

Furthermore, investors’ sentiment is bolstered as whales have expanded their holdings, now controlling a larger share of ADA’s total supply compared to earlier this year.

Risks Remain: Key Support Levels to Monitor

Despite the bullish setup, ADA still faces important risks. Key support levels at $0.68 and $0.594 will be crucial; a breakdown below either could weaken the trend.

By the time of publishing, Cardano (ADA) was trading at approximately $0.7144, marking a slight decrease of 0.35% over the past 24 hours.

Traders are urged to stay alert, monitor price action closely, and manage risk carefully.