$ADA Price and the Golden Cross Setup

The price of Cardano (ADA) has risen by 5.99% in the past 24 hours to $0.8262, according to data from CoinMarketCap. The coin has bounced from a low of $0.7730 to a high of $0.8274.

The current price movement comes as the earlier ADA price analysis comes with speculation that the coin could soar to $1. Also, several onchain metrics, including the open interest that crossed the $1 billion threshold earlier, and the technical indicators, point to more breakout ahead.

On the daily chart, it is worth noting that Cardano price has retained its Golden Cross formation, showing that the bull market is still in play. As shown on the chart, ADA has maintained the golden cross since at least April 20, with the price surging by more than 17% in the past week.

The coin has retained its current price level following Bitcoin’s retest of $100,000 amid its adoption as a reserve asset by three states in America. However, the Cardano ecosystem is currently making a unique shift in its push to drive development and unleash new products to serve users.