ADA, the native token of the Cardano blockchain, is currently showing a bullish trend and is expected to experience a significant uptrend following an announcement made by Donald Trump. The recent unveiling of the Crypto Strategic Reserve has had a positive impact on the overall cryptocurrency market, particularly ADA, leading to a 70% increase in its value.
Technical Analysis and Future Levels for Cardano (ADA)
The recent surge in price has triggered a breakout from a bullish price pattern that ADA has been forming on a weekly basis.
Expert technical analysis suggests that ADA has broken out of a bullish flag and pole pattern on the weekly chart. This pattern began to take shape in December 2024, with the price moving downward since then. However, the 70% increase in value that occurred recently has broken this bullish pattern, potentially paving the way for a further 90% increase.
Based on recent price movements and historical trends, if ADA closes a weekly candle above the $1.05 level, there is a strong likelihood that it could increase by 90% and reach the $1.90 mark in the near future.
Current Price Trend for ADA
Following this significant surge in price, ADA has once again surpassed the 200 Exponential Moving Average (EMA) on the daily chart, indicating a shift towards an uptrend.
ADA is currently trading at around $1.05 and has experienced a more than 70% increase in value over the past 24 hours. A substantial portion of this surge occurred within the last 120 minutes. During this time, the trading volume of the asset increased by 800%, indicating increased participation from traders and investors following ADA’s inclusion in the Crypto Strategic Reserve.