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Cardano's Bullish Hourly Golden Cross; Will ADA Rally? Cardano (ADA) is currently showing signals of bullish potential as it posts a "golden cross" formation on its hourly charts. This development has sparked anticipation among traders and investors, prompting speculation about the potential trajectory of ADA's price in the near term. A golden cross occurs when a shorter- term moving average, typically the 50-hour moving average, crosses above a longer- term moving average, such as the 200- hour moving average, on a price chart. This crossover is interpreted by technical analysts as a bullish signal, suggesting a potential uptrend in the asset's price. In the case of Cardano, the recent bullish crossover on its hourly charts might suggest a shift in momentum toward the upside. This bullish formation reflects increasing buying pressure and suggests that ADA's price could be poised for significant upward movement in the coming days. However, it is important to note that while golden crosses can provide valuable insights into market sentiment and potential price trends, they are not foolproof indicators and should be considered in conjunction with other technical and fundamental factors. ADA was up 0.59% in the last 24 hours at the time of writing to $0.4575, having pared its intraday gains. ADA fell drastically on its hourly chart, forming a giant red candlestick at press time. Weekly initial jobless claims rose to their highest level since August 2023, impacting the financial markets with the U.S. inflation data for April due next week. As Cardano's community eagerly awaits further developments on the market, all eyes are on the charts to see if ADA can capitalize on the bullish golden cross and sustain its upward momentum. A breakout above key resistance levels could potentially signal a new bullish phase for ADA, while failure to maintain momentum could result in selling pressure. In this regard, a break above $0.684 might kickstart a fresh uptrend for ADA's price; on the other hand, if selling persists, the $0.4 level may act as a formidable support.

Cardano's Bullish Hourly Golden Cross; Will ADA Rally?

Cardano (ADA) is currently showing signals of bullish potential as it posts a "golden cross" formation on its hourly charts. This development has sparked anticipation among traders and investors, prompting speculation about the potential trajectory of ADA's price in the near term.

A golden cross occurs when a shorter- term moving average, typically the 50-hour moving average, crosses above a longer- term moving average, such as the 200- hour moving average, on a price chart. This crossover is interpreted by technical analysts as a bullish signal, suggesting a potential uptrend in the asset's price.

In the case of Cardano, the recent bullish crossover on its hourly charts might suggest a shift in momentum toward the upside. This bullish formation reflects increasing buying pressure and suggests that ADA's price could be poised for significant upward movement in the coming days.

However, it is important to note that while golden crosses can provide valuable insights into market sentiment and potential price trends, they are not foolproof indicators and should be considered in conjunction with other technical and fundamental factors.

ADA was up 0.59% in the last 24 hours at the time of writing to $0.4575, having pared its intraday gains. ADA fell drastically on its hourly chart, forming a giant red candlestick at press time.

Weekly initial jobless claims rose to their highest level since August 2023, impacting the financial markets with the U.S. inflation data for April due next week.

As Cardano's community eagerly awaits further developments on the market, all eyes are on the charts to see if ADA can capitalize on the bullish golden cross and sustain its upward momentum. A breakout above key resistance levels could potentially signal a new bullish phase for ADA, while failure to maintain momentum could result in selling pressure.

In this regard, a break above $0.684 might kickstart a fresh uptrend for ADA's price; on the other hand, if selling persists, the $0.4 level may act as a formidable support.

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Solana (SOL) Might See Epic Rally If This TD Sequential Signal Holds. Solana (SOL) is currently not in a positive spot as its price slump has extended the trailing 7 day losses to 10.37%. At the time of writing, this loss appears to be thinning out, however, there is a projection of a likely change in trend. Solana Bullish Revival Is Imminent. In the financial market, the rise and fall in prices is one key feature that has formed a law. While there may be extended periods of drawdown, there is often an imminent rebound. In the case of Solana, top market analyst Ali Martinez has weighed in. According to Martinez, Solana price has hit a major support level at the $141 mark. Taking a look at the Solana chart, the coin dropped to a 24-hour low of $140.12 and recorded a high of $145.54. The $140 price point comes off as the lowest Solana has recorded in the past month. As it stands, the $141 price point if serving as a key support to prevent further slumps. The tides turned swiftly for SOL following the selloff that Bitcoin has recorded recently. After trading for $163 over the past week, immediate succor is needed for long traders with liquidated positions. Judging by the on-chain signals from TD Sequential indicator, Martinez posited that a buy signal has emerged on the daily chart. This is a bullish signs considering the SOL bears are facing exhaustion from selling. According to the analyst, if the $141 support holds, SOL might print 1 to 4 more daily candlesticks. This insight is crucial for the coin as it might help market watchers gauge the potential trends. SOL Boost Amid Memecoin Revolution. Every blockchain protocol have their go-to catalyst for growth. Despite the many Solana congestion challenges suffered in the first quarter, Solana is back on its feet with a mainnet fix. One of the most ambitious ways to showcase this strength is through memecoin explosion. While Ethereum (ETH) and Binance Smart Chain (BSC) has their run, Solana is now reigning as the memecoin network to watch.
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