Hello Fellow Crypto Investors
Below you will see the chart for Cardano. The 50 Day and 100 Day SMA's are converging on what looks to be roughly 3,000 Satoshis. If the 50 day can break up over the 100 day we will have what is called a Golden Cross in the traditional world of Technical Analysis. The golden cross is a bullish breakout pattern formed from a crossover involving a security's short-term moving average. We have seen price strength confirmation over the past 4 days where ADA has bounced off the 100 Day SMA.
What are your thoughts on the Golden Cross or ADA's short term movements in general? Feel free to have a discussion below and as always if you found this post informative feel free to SMASH UP the VOTES and RESTEEM!