Oh, the sweet taste of vindication 🍰! Cardano (ADA), the 10th-largest cryptocurrency by market capitalization, has been busy proving the bears wrong, at least for now 🕰️. After flashing a dreaded death cross on its weekly chart in late June, which is like a big, red “Doom” sign 🚨 for the bears, ADA has made a surprising comeback 💥. Instead of tanking, Cardano has surged 42% in July, defying the bearish crossover and rubbing it in the bears’ faces 😏.
A death cross, for the uninitiated, is like a technical analysis party crasher 🎉 – it happens when a shorter-term moving average (think 50-day or 50-week MA) falls below a longer-term moving average (like 200-day or 200-week MA). It’s often seen as a bearish signal, like a big, ominous cloud ☁️, frequently indicating deeper corrections or extended downtrends.
But then, something strange and wonderful happened 🤩 – after the bearish technical pattern, Cardano began to rally instead of decline further 🚀. It was like the cryptocurrency equivalent of a Houdini escape 🔮!
Cardano embarked on an uptrend in the last week of June, as the broader altcoin market caught some momentum, resulting in four weeks of consecutive rises 📈. The surge culminated in a high of $0.935 on July 21, when the price met resistance 🤯. Despite this, ADA remained up 42% in July, according to TradingView data 📊.
What’s next for ADA price? 🤔
At press time, ADA was down 0.23% in the last 24 hours to $0.807, and down 5.13% weekly, erasing its seven-day gains during the latest crypto market sell-off 📉. Ouch! 😳
Cardano has created a bearish death cross on its hourly chart, signaling that the bears are attempting a short-term return 🕷️. If the price falls from its current level, ADA could decline to $0.74 (the daily SMA 200) and then to $0.70, or the daily SMA 50 at $0.66 📊. To regain control, buyers must raise the price above $0.86 💪. If they do this, ADA may rise to $0.90 and then to $0.94 🚀.
The bulls will attempt to test the overhead resistance of $0.94 🚀. If the level is crossed, ADA may increase to $1.02, and later to $1.17 🎉. Fingers crossed! 🤞
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2025-07-25 17:49