How Trump’s Crypto Tax Policy Could Propel Cardano Price to $2.6

• Eric confirms that President Trump plans to exempt American cryptos from taxation.
• Cardano’s price is primed for a rebound and could surge toward $2.6 in the short term.

Cardano (ADA) was among the most prospective cryptocurrencies within the crypto sphere. It is on its own way and way out of the constant price jitters to achieve the $1 psychological round mark. Cardano has been in a steady uptrend in recent sessions.

In a video posted on X, Eric Trump talked about a policy initiative by President Trump which is focused on the development of cryptocurrencies in the US.

To back up his claim, Eric said that President Donald Trump is set to exempt all American cryptocurrencies like Algorand (ALGO), Cardano (ADA), Ripple (XRP), Hedera Hashgraph (HBAR), among others, from taxes.

Such a move could put U.S.-based cryptocurrencies at an advantage against non-US-based block chains.

Cardano Price at Press Time

At press time, Cardano price traded at $1.03, noting an intraday rise of over 0.76% showing flat movements. Its market cap rose to $36.14 Billion, standing 9th among the top crypto coins.

The total supply stands at 44.99 Billion and the pair of ADA/BTC was at 0.0000105 BTC.

Slippages Spike Could Indicate Cardano’s Price Recovery Ahead

ADA’s price displayed a steep swing and set a “local low” at $0.95 that may lead to $2.60 early next year.

The indicator of wholesales and retails-The Whale vs Retail Delta raised questions after the local bottom reflected the significance of whale transactions.

This could mean that large players were building up their premiums at lower prices, which is a critical signal for deciphering reversals or continuations.

Furthermore, the high slippage levels coincided with sharp price movements, confirming high transaction volumes at critical price levels.

In such a scenario, it is assumed that the market had higher liquidity and order flow, which was usually associated with a potential trend shift.

Cardano Price Prediction: Key Levels to Watch Out

On the daily timeframe, Cardano price pulled back and retested the 20 day EMA mark this week.

The price action reflects a bullish bias, as the altcoin moved higher within the rising parallel channel.

Both the leading and lagging indicators project a bullish outlook. Amidst this, a move beyond the $1.30 could trigger a bullish move toward the $2 mark in the short term.

However, a drop below the $0.90 mark would invalidate the bullish thesis.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.