On the technical front, the ADA price on the daily chart indicates that price action is gaining strength, suggesting that the long-trapped declining range could be breached if it maintains momentum above the $0.70 resistance level. A daily close above this mark would signify a breakout from a multi-month declining wedge.
Currently, the Cardano price has surpassed the $0.60 level, supported by the swing low from April. If buying momentum persists, bolstered by strong institutional backing, there is a solid chance for a significant rise toward the $1.00 mark.
Additionally, experts point out that ADA has formed a powerful long-term signal: the Golden Cross on the weekly chart. This formation marks a historic moment for Cardano, indicating potential for further growth in the future.
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