Cardano dropped 1.54% in the past 24 hours, but technical analysts have identified a rare bullish signal that has never appeared on ADA charts before. The cryptocurrency recorded its first weekly golden cross, a technical formation that occurs when a shorter moving average crosses above a longer one, potentially indicating a shift in market sentiment after months of sideways trading.
What to Know:
- Cardano achieved its first-ever weekly golden cross with the 50-week moving average crossing above the 200-week line
- Large holders accumulated approximately 120 million ADA tokens worth $3.3 billion over the past two weeks
- Price targets range from $0.74 by August to ambitious projections of $10 during this market cycle
Technical Breakthrough Emerges Despite Short-Term Pressure
Analyst Mr. Brownstone documented the historic crossing of Cardano's 50-week moving average above its 200-week line, marking the first time this pattern has occurred since the cryptocurrency's launch. The development comes as ADA trades at $0.60, positioned below both its 50-day moving average at $0.66 and 200-day moving average at $0.64.
"Anyone else notice that Cardano just had it's first Weekly Golden Cross ever?" Brownstone posted on social media platform X on July 9, 2025. The technical formation typically signals potential upward momentum, though traders emphasize the need for price to reclaim key resistance levels.
Technical analyst MasterAnanda suggests ADA must reclaim its 34-period exponential moving average and the 200-day moving average before establishing a sustained uptrend. A close above $0.64 could attract additional buyers, while a drop below $0.59 might trigger increased selling pressure.
Whale Activity Suggests Growing Institutional Interest
Large-scale accumulation has accompanied the technical developments, with addresses holding between 1 million and 10 million ADA tokens adding approximately 120 million coins over the past two weeks. Analyst Ali Martinez documented this activity, noting these whale addresses now control roughly 5.5 billion ADA tokens valued at approximately $3.3 billion at current prices.
"Whales bought over 120 million Cardano $ADA in the last two weeks!" Martinez posted on July 8, 2025. The accumulation pattern often indicates confidence in future price appreciation, though it can also lead to rapid profit-taking if market conditions shift.
The whale accumulation occurs against a backdrop of mixed technical indicators. Current data shows 14 green days out of the last 30 trading sessions, with volatility measured at 7.54%. The Fear & Greed Index registers 59, indicating neutral market sentiment.
Price Projections Range From Conservative to Ambitious
Short-term price predictions suggest modest gains, with CoinCodex forecasting a 25% increase to $0.74 by August 8, 2025. However, longer-term projections vary dramatically, with some analysts targeting $1.33 while others project potential gains to $10 during the current market cycle.
The disparity in price targets reflects uncertainty about Cardano's ability to maintain momentum beyond the weekly golden cross formation. Technical indicators currently lean bearish despite the bullish long-term signal, creating a complex environment for traders and investors.
Broader market conditions, particularly Bitcoin's performance, will likely influence whether ADA can sustain any rally from current levels. The cryptocurrency's correlation with major digital assets means independent moves remain challenging to maintain.
Market Outlook Depends on Key Resistance Levels
Cardano's historic weekly golden cross provides a bullish foundation, but near-term price action will depend on clearing immediate resistance levels. Traders seeking confirmation may wait for ADA to close above $0.66 on daily charts before establishing new positions.
Risk management remains crucial, with many analysts suggesting stop-losses below $0.59 to protect against potential rejection at resistance levels. The combination of whale accumulation and technical signals has renewed investor interest in Cardano, though success will ultimately depend on broader market dynamics and the cryptocurrency's ability to maintain momentum beyond the initial breakthrough.