Cardano MACD Approaches Golden Cross After June Pattern Delivered 62% Rally

• Cardano MACD indicator approaches golden cross on daily chart matching June pattern.
• Last occurrence in June triggered 62% rally from $0.53 to $0.93 peak.
• Two resistance zones at $0.74-$0.77 and $0.80 must break for sustained rally.

Cardano’s Moving Average Convergence Divergence indicator shows bullish signs on the daily chart as it approaches a golden cross formation. Historical patterns suggest this technical setup could precede upward price movement in coming days.

ADA corrected nearly 4% on Tuesday following three consecutive days of price gains. The pullback returned a portion of recent advances as broader market weakness affected most cryptocurrencies.

Analyst Lark Davis identified the developing MACD golden cross in recent analysis, projecting Cardano could rally considerably once the technical pattern completes. The indicator crossing below zero historically precedes upward momentum.

June pattern produced 62% gains

Cardano last experienced this MACD crossing configuration in June when price consolidated around $0.53 support. Days after the cross completed, the token initiated a 62% surge reaching $0.93 on July 21.

A similar percentage gain from current levels would deliver substantial returns. Cardano trades at $0.641 at press time. Applying the 62% rally metric would target $1.04, pushing ADA above recent consolidation ranges.

For sustained upward movement, Davis noted Cardano must overcome two critical resistance zones. The first sits at $0.74-$0.77, a former support area that failed during the October 10 market correction.

ADA has struggled reclaiming this level since dropping below on October 10. An attempt to reach $0.73 one week ago faced massive rejection at the zone, demonstrating its current function as overhead supply.

Breaking through the initial resistance opens paths toward the second barrier around $0.80. This level aligns with a descending trendline originating from the August 14 peak of $1.020.

Cardano has repeatedly failed breaking above this trendline resistance. Successfully clearing this technical obstacle would strengthen bullish momentum toward higher price targets according to Davis’s analysis.

Technical setup requires confirmation

The MACD golden cross formation requires completion before signaling definitive bullish confirmation. Until the indicator lines cross and the pattern finalizes, the setup remains incomplete despite approaching the critical juncture.

Market conditions following the cross will determine whether historical performance repeats. The June rally occurred during different market sentiment and trading volume conditions that may not directly translate to current environment.