- Cardano has formed a crucial chart pattern that could signal the beginning of a rally.
- The golden cross has formed on the Cardano chart.
- Cardano’s price has recently climbed, leading the total value locked (TVL) to increase significantly.
Cardano (ADA) has formed a crucial chart pattern that could signal the beginning of a significant price rally, according to ‘Zach Humphries’ on YouTube, an entrepreneur and crypto investor. In a recently uploaded video, Humphries noted that a golden cross, a pivotal technical pattern in cryptocurrency analysis, has formed on the Cardano chart.
A golden cross happens when a shorter moving average (typically the 50-day ema) crosses over a longer moving average (typically the 200-day ema) in an uptrend. Humphries explained that the setup is traditionally considered a bullish signal in the trading community. It is an indicator that foretells the beginning of a new trend in the upward direction.
According to Humphries, Cardano’s price has recently climbed, leading the total value locked (TVL) to increase significantly. He noted that the upgrades on the decentralized blockchain have been slow and steady while acknowledg…
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