Cardano’s main network asset, ADA, has experienced a remarkable 70% surge in value within the last 24 hours. This rapid increase is primarily attributed to recent statements made by Donald Trump and the announcement of a “Cryptocurrency Strategic Reserve.” This development has notably invigorated the overall cryptocurrency market, propelling ADA into an upward trend. Technical analysis indicates that this swift ascent may continue.
Cardano Price Analysis: Key Levels for the Altcoin
ADA successfully broke upwards from a bullish flag formation that had been forming over the weekly timeframe. This pattern had been developing since December 2024, during which the price experienced a prolonged downtrend. However, the recent 70% increase has enabled a breakout from this formation.
According to technical analysis experts, if ADA closes the week above $1.05, it could potentially rise by another 90% to reach $1.90. This area is identified as one of the significant resistance points for ADA’s price.
$0.393869-ADA-Fiyat-Analizi-Yorum-scaled.jpg” alt=”” width=”2560″ height=”1029″ />With this surge, a significant increase in ADA’s trading volume has also been observed. The altcoin‘s trading volume has risen by over 800% in a short period. This metric can be interpreted as a strong signal of growing interest from buyers in ADA.
Current Status and Expectations for ADA Price
With its recent increase, ADA has managed to rise above the 200 Exponential Moving Average (EMA) in the daily timeframe. This indicates that the altcoin has technically entered an upward trend.
Currently, ADA is trading around $1.05, and further increases are anticipated. The overall positive sentiment in the cryptocurrency market, coupled with the substantial increase in trading volume, suggests that the altcoin may test the $1.50 level in the coming days.
Experts indicate that if the price maintains above $1.05, ADA could sustain its bullish trend. However, daily candle closures below $1.05 could pull the price back to around $0.85. Therefore, investors need to closely monitor this critical price level.
