Cardano (ADA) Reclaims $1 Milestone and Aims for $1.77 as Demand Surges Following Inclusion in U.S. Crypto Reserve
With Donald Trump announcing Cardano as part of the U.S. Crypto Reserve, ADA’s price skyrocketed 72% overnight, reclaiming the $1 psychological mark. As buying pressure grows, will the bullish rally reach a new all-time high?
Cardano Hits $1.19, Buyers Anticipate New Swing High
Following last night’s massive move, Cardano has disrupted the trend established since mid-January 2025. The bullish engulfing candle surpassed the 78.60% Fibonacci level at $0.92. The overnight bull run achieved a 24-hour high of $1.19.
Cardano Price Chart
Short-term exhaustion led to an intraday pullback of 11.62%, with Cardano currently trading at a market value of $1.0020. The bullish overnight recovery also resulted in the breakout of the falling wedge pattern mentioned previously.
The bullish breakout is supported by positive crossovers in both the MACD and signal lines. The daily RSI briefly entered the overbought region, indicating the potential for a continued bullish trend.
The Most Trendy Altcoin Finds Whale Support
The overnight surge has caught the attention of crypto whales, as highlighted by Ali Martinez. According to a recent tweet, whales have purchased nearly 200 million ADA tokens in the past 24 hours.
> Whales bought nearly 200 million #Cardano $ADA in the last 24 hours! pic.twitter.com/VTUguEIbyG
> — Ali (@ali_charts) March 2, 2025
Additionally, LunarCrush Analytics reported that Cardano is making bullish strides, becoming one of the most discussed tokens with 8,085 social mentions per hour. The altcoin’s social dominance has surged to 5.65% of all crypto social activity, positioning Cardano as the sixth most popular cryptocurrency on social media.
Cardano (ADA) Price Targets Aim for $1.77
From ADA’s price action analysis, Cardano has faced challenges exceeding the critical resistance level at $1.22. With the intraday pullback, it is nearing a potential decrease toward the 78.6% Fibonacci level at $0.9216.
However, the strong underlying demand suggests a post-pullback reversal is likely. Fibonacci levels project an optimized target of $1.7725, representing the next 52-week high for Cardano. Conversely, the crucial support level below $0.92 remains at $0.7351.
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