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Cardano has been making waves in the crypto market, with ADA’s price showing impressive gains despite recent fluctuations. Its momentum has been further fueled by U.S. President Donald Trump’s endorsement, sparking speculation about Cardano’s role in the evolving financial landscape. Could this political backing help propel ADA toward its $1.50 target and beyond?
ADA Key Statistics
- Current Price: $0.97
- Market Cap: $33.6 billion
- Trading Volume (24h): $10.3 billion
- Circulating Supply: 35.2 billion ADA
- Total Supply: 44.9 billion ADA
- CoinMarketCap Ranking: #8
Cardano (ADA) has experienced notable fluctuations in its price over the past month. Compared to its 30-day peak, ADA is down by 3.46%, yet it has surged by an impressive 21.05% from its highest point in the past seven days. Meanwhile, from its lowest recorded price within the same periods, ADA has soared by a remarkable 67.00% over the last 30 days and 63.65% over the past week, highlighting strong bullish momentum.
ADA/USD Market
Key Levels
- Resistance: $1.02, $1.32, $1.50
- Support: $0.78, $0.70, $0.54
Cardano (ADA) has experienced a dramatic price movement, plunging by over 14% to trade at $0.97 after breaking the $1.00 barrier yesterday. However, the price rebounded swiftly, breaking above the mid-Keltner Channel (KC), signaling potential recovery. If buyers maintain momentum, ADA could push toward its first resistance at $1.02. A successful break above this level may pave the way for a test of $1.32, the recent swing high. Should bullish pressure persist, ADA could aim for $1.50 in the near term. However, fading momentum around the current zone might lead to consolidation, delaying further upside movement.
On the downside, ADA’s support structure remains crucial in determining its next move. The price recently bounced from $0.78, making it the first key support. If sellers regain control, a retest of $0.70 could be on the horizon, potentially exposing ADA to deeper declines. The last line of defense sits at $0.54, a level that could trigger strong buying interest. Notably, the RSI, which surged above 60, has now dropped to exactly 60, indicating a slowdown in bullish momentum. If the signal line continues downward, ADA could face renewed selling pressure, reinforcing the importance of maintaining support levels.
Cardano (ADA) Eyes $1.50 Amid Trump’s Crypto Endorsement
Cardano (ADA) has been gaining strong upward momentum, with its recent breakout above $0.75 reigniting investor optimism. The surge in trading volume and bullish sentiment suggests ADA could push toward the key psychological level of $1.00, with $1.50 emerging as a potential mid-term target. If ADA can maintain its current trajectory and sustain support above critical levels, its path toward higher valuations remains intact.
Cardano (ADA) Hits Record Level
Adding to ADA’s bullish case, former U.S. President Donald Trump recently highlighted Cardano in a discussion about cryptocurrencies being included in a proposed “Crypto Strategic Reserve.” This unexpected nod from a major political figure has fueled market enthusiasm, reinforcing ADA’s position as a legitimate contender in the evolving digital asset space. Combined with Cardano’s ongoing developments in scalability and DeFi adoption, this newfound attention could accelerate institutional interest, making a move toward $1.50 increasingly plausible.
ADA/BTC Performance Insight
The ADABTC daily chart shows a strong bullish breakout, surging to 0.00001380 before retracing to 0.00001056. The price moved sharply above the Keltner Channel midline, signaling increased volatility and buying pressure. However, the RSI divergence indicator previously signaled bearish momentum, leading to a correction. The RSI currently sits at 64.06, suggesting bullish strength but nearing overbought levels. If support at 0.00001051 holds, ADABTC could aim for a retest of its recent high, while a drop below this level may lead to further retracement toward 0.00000850.
As previously noted, Trump’s endorsement of Cardano as part of his proposed ‘Crypto Strategic Reserve’ has played a key role in its surge against BTC. This development was highlighted in a recent X post by Cardanians (CRDN).
🚨 JUST IN: Cardano $ADA will be part of U.S. Strategic Crypto Reserve 🇺🇸 pic.twitter.com/XpfCX1AxV5
— Cardanians (CRDN) (@Cardanians_io) March 2, 2025
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Related News
- Cardano Price Prediction for Today, February 20 – ADA Technical Analysis
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