Key Insights
- Trump announced a U.S. Crypto Strategic Reserve, including ADA.
- Cardano surged 47% in 24 hours, reaching $0.97 with high volume.
- Analysts see $2 as a possible target if momentum remains strong.
Cardano price has been attributed to the recent announcement by the U.S president Donald Trump regarding U.S Crypto Strategic Reserve. Cardano (ADA) price has gone up 47% to $$0.9761.
Cardano (ADA) has seen a 47% price surge following an announcement by the U.S. President Donald Trump regarding a U.S. Crypto Strategic Reserve. The move has fueled speculation about ADA’s future trajectory, with analysts predicting a potential climb toward the $2 mark. Despite this sharp increase, the price has not yet returned to its all-time high of $2.94.
Trump’s Crypto Reserve Announcement Fuels ADA’s Rally
According to Trump, the U.S. Crypto Strategic Reserve includes Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA). The idea is to position the U.S. in the forefront of this cryptocurrency sector.
Trump said in a statement on Truth Social that a U.S. Crypto Reserve will improve this important industry after years of the Biden Administration’s corrupt attacks. Specifically, he went on to say that his executive order on digital assets will also help propel the establishment of the reserve, with ADA among such fundamental assets.
After this announcement, ADA’s price soared all the way to the peak of $0.97. Huge interest is behind this, as seen in the rising trading volume, and market participants are looking to see if ADA can continue its surge.
Analyst Predict Cardano Price Could Reach $2
According to market analyst AMCrypto, the current trajectory of ADA could eventually propel the price towards $2. On the 12-hour ADA chart, an ABCD pattern most often indicates a strong continuation trend remains bullish.
The pattern has an impulsive move from point A to point B, retracement from point B to point C and a parabolic recovery from point C to point D. Therefore using the 2.613 Fibonacci extension gives a target somewhere between $2.50 and 2.70 based on historical trends.
The key resistance continues to be at $2 and analysts suggest that a successful breakout could take ADA up to $2.50. But if the buying pressure falls, the asset may pullback before trying to back up again.
Open Interest and Trading Volume Surge
Cardano’s open interest (OI) has risen by 113% in the past 24 hours, signaling a strong increase in leveraged positions. OI has surged, pointing towards increased trader participation as traders predict price surge.
On the other hand, Cardano’s trading volume has risen by 2,029% to $11.82 billion. Increased trading volume shows strong involvement in the market, strengthening the bullish sentiment prevailing at the moment.
Price Lags Despite Strong Momentum
ADA reached a new high of $1.76 but remains below its all-time peak of $2.94. While bullish momentum is evident, the price has yet to break key resistance levels needed for a long-term breakout.
If ADA can keep support as it stands, between $0.90 and $1.00, then, more gains can be expected. However, if these levels do not hold, they could turn into a correction lower to the support zones, with $0.85, and $0.80 key levels to watch.
With growing interest from both retail and institutional investors, Cardano’s next move will depend on market sentiment and broader cryptocurrency trends. Traders are closely watching whether Cardano price can break past the $1.10 resistance and push toward its $2 target b y April.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Olivia Stephanie is a FinTech enthusiast with a keen understanding of financial markets. Her passion for economics and finance has led her to explore emerging blockchain technology and cryptocurrency markets.