Cardano has increased over 75% after joining US President Donald Trump’s proposed crypto strategic reserve scheme.
Crypto.news price according to the tracker, after Trump’s March 2 Crypto Strategic Reserve Declaration, the cardano (ADA) price skyrockens, the sky touching, has come down from $ 0.6461 to $ 1.13 to $ 1.13.
In the last 24 hours, the trading volume of tokens has increased by 1,450%, which is an average of $ 9.7 billion and has increased its market capitalization to $ 36 billion. The comprehensive crypto market also saw a boost, with more than $ 300 billion in capital praise.
With a strong advance than $ 0.82, a significant resistance area, value action indicates that the cardano is emerging from a long consolidation phase. After being at the peak at $ 1.20, the rally returned moderately to $ 1.00, where it is now stabilizing. The demand for strong purchase by notable volume surge has been confirmed.
The relative power index briefly touched the level above 75 before it cools down by 62, indicating that the cardano lives rapidly in the area, but can see short -term consolidation. Both indicate a purchase at 0.8255, exponential moving averages and simple moving averages at 0.9350, support the uptrend.
If the cardano is above $ 1.00, then the next major resistance to view is around $ 1.20, if the speed continues then with a possible step towards $ 1.50. On the negative side, the support sits near $ 0.82, $ 0.80 serves as an important psychological level.
In the near future, an important catalyst for Cardano may be the approval of the Spot Cardano ETF of Grassscale of the Exchange Commission. If approved, it will be the first ETF in the US that is completely dedicated to ADA, which will make it more accessible to traditional investors and possibly promote long -term development.
