In the past 36 hours, Cardano 
$0.657865 (ADA) has experienced over a 17% increase, drawing significant attention from cryptocurrency market participants. Investors are particularly focused on the possibility of Gemini exchange listing ADA and the U.S. government’s strategic cryptocurrency reserve plans. According to technical analysts, the retesting of the three-month support level could signal the beginning of a trend reversal in pricing.
Factors Driving Cardano’s Rise
Tyler Winklevoss, co-founder of Gemini, indicated that Cardano might not be suitable for a strategic reserve but did not eliminate the potential for listing, raising expectations. Despite this uncertainty, the prospect of a listing has increased investor interest in ADA coin. Recently, statements from the U.S. government regarding cryptocurrency reserves caused fluctuations in the market.
Technical data shows that ADA has maintained its three-month support zone at $0.68. However, care should be taken as failing to robustly surpass $0.80 could create resistance against further increases. Moreover, the Awesome Oscillator indicator suggests a shift in momentum favoring sellers, while the daily chart still reflects a downward trend.
Expert Levels to Watch for ADA Coin
Liquidity maps reveal that $1.17 is a significant resistance area for Cardano. In the short term, the $0.80 – $0.90 range is critically important. Analysts warn that failing to exceed the $0.90 level could trigger a new wave of declines, while surpassing it might lead to potential increases up to $1.03 and $1.09.
The Chaikin Money Flow (CMF) indicator shows no clear inflow or outflow of money for the altcoin, indicating a continued balance between buyers and sellers.
