Cardano (ADA) has soared over 75% after U.S. President Donald Trump announced its inclusion in a proposed crypto strategic reserve. The price surged from $0.6461 to $1.13, driven by renewed investor confidence.
According to TradingView, ADA’s trading volume skyrocketed by 1,450%, reaching $9.7 billion. Meanwhile, the broader crypto market gained $300 billion in value, reflecting the impact of this announcement.
Cardano Breaks Key Resistance Levels
Cardano successfully broke past the $0.82 resistance, signaling an end to its consolidation phase. After peaking at $1.20, the price slightly retraced and is now stabilizing around $1.00.
Technical Indicators Remain Bullish
✔ Relative Strength Index (RSI): Briefly hit overbought territory (75) before cooling to 62, suggesting possible short-term consolidation.
✔ Exponential Moving Average (EMA): $0.8255, indicating a strong buy signal.
✔ Simple Moving Average (SMA): $0.9350, further supporting bullish momentum.
If ADA holds above $1.00, the next resistance level sits at $1.20, with a potential move to $1.50 if buying pressure continues. On the downside, $0.82 remains key support, while $0.80 serves as a psychological level.
Cardano ETF Could Be a Major Catalyst
A major development on the horizon is the potential approval of Grayscale’s spot Cardano ETF by the U.S. Securities and Exchange Commission (SEC).
If approved, this would be the first U.S. ETF dedicated to ADA, making Cardano more accessible to institutional investors. This could drive long-term growth and mainstream adoption.
Final Thoughts
Cardano’s massive rally highlights its growing significance in the crypto market. With Trump’s crypto reserve plan and a potential Cardano ETF, ADA could see further gains. Will it sustain momentum, or is a correction coming? Share your thoughts below!
