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The Cardano price skyrocketed 61% in the last 24 hours to trade at $1.07 as of 00:09 a.m. EST on a 1,592% pump in trading volume to $9.5 billion.
The surge comes following an announcement by US President Donald Trump regarding plans for a national strategic reserve for cryptocurrencies including ADA, Bitcoin, XRP, Solana, and Ethereum.
I love the genius of announcing a strategic reserve on a Sunday, when traditional markets are closed and Wall Street sleeps. For the first time, retail investors win. Traditional finance better catch up, or it will quickly become extinct. The world no longer runs on a Mon-Friday,… pic.twitter.com/EPtbEisbdI
— Eric Trump (@EricTrump) March 3, 2025
The news left Cardano as the top performing major crypto, according to CoinMarketCap.
Cardano Price On A Sustained Bullish Trend
According to the ADA price analysis, the bulls have recently taken control of the price, pushing the asset from a falling channel pattern through a parabolic curve.
The recent breakout occurred with high momentum, pushing the Cardano price from $0.60 to over $1.10 in a matter of hours, according to data from GeckoTerminal.
This move not only broke the descending trendline resistance but also flipped key resistance levels into support. The parabolic nature of this breakout suggests strong buying interest, potentially fueled by positive market sentiment or fundamental catalysts.
Meanwhile, the 50-day Simple Moving Average (SMA) ($0.71) has now been breached, and price has also surpassed the 200-day SMA ($0.77), signaling a potential trend reversal from bearish to bullish.
The Relative Strength Index (RSI) is currently at 79.74, which is in the overbought territory. This suggests that the Cardano price might experience a short-term pullback or consolidation before continuing its upward trajectory.
Moreover, the Moving Average Convergence Divergence (MACD) histogram shows a strong bullish crossover, with the MACD line (blue) rising sharply above the signal line (orange). This confirms strong buying momentum.
ADA Price Prediction
The breakout from the falling channel pattern and the strong volume spike indicate that ADA has entered a bullish phase.
If ADA holds above $1.00, it could target $1.20–$1.30 in the short term, with a potential for further upside if bullish momentum sustains.
However, given the overbought RSI, a short-term pullback to the $0.95–$1.00 region could occur before the next leg higher.
As the ADA price surges, investors are shifting focus to a new meme coin called Meme Index (MEMEX).
According to 99Bitcoins, a prominent crypto channel on YouTube that boasts over 725K subscribers, MEMEX has the potential to be the next 100x crypto.
Meme Index Presale Closes On $4 Million Milestone – Last Chance To Buy
The Meme Index ($MEMEX) presale has surpassed $3.9 million, showing strong interest from early investors eager to capitalize on its new approach to meme coin investing.
The team has now put a timer on the presale, which will end in about 28 days.
Meme Index offers investors diversified meme coin investing for the first time. It offers four meme coin portfolios that spread risk across multiple tokens.
GET READY TO MOON, DEGENS! Meme Coin Mania is BACK and better than ever! With Solana at the helm, my AI-powered $MEMEX is scanning the markets for the NEXT BIG THING! Stay glued for exclusive alpha, insights, and updates on the hottest meme coins!
— Meme Coin Mania (@MemeCoinMania77) February 5, 2025
The indexes are Meme Titan, Moonshot, Midcap, and Meme Frenzy.
Each basket caters to varying risk appetites, from relatively safer options like Meme Titan to the highest-risk Meme Frenzy, which features emerging and highly volatile meme coins for those seeking high returns while willing to accept high risk.
MEMEX holders can also participate in the project’s presale staking pool, which currently provides a stratospheric annual yield of 583%.
You can purchase MEMEX tokens on the official website for just $0.0166883.
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