Cardano (ADA) Soars 80% After US President Donald Trump Announces “US Crypto Reserve”

On Sunday, Cardano (ADA) saw a massive 80% pump following the US President's announcement of a “Crypto Strategic Reserve” that will include ADA.

The price of Cardano (ADA) saw a massive 80% pump on Sunday following US President Donald Trump's announcement of a "US Crypto Strategic Reserve" that will include the token, and some analysts believe it might be poised for a 125% rally from current levels.

On March 2, Trump announced the creation of a "crypto strategic reserve" that will be comprised of Bitcoin (BTC), Ethereum (ETH), Cardano, XRP, and Solana (SOL).

Announced on his social media platform, Truth Social, Trump stated that the strategic reserve would "greatly elevate this critical industry after years of corrupt attacks by the Biden Administration." The announcement sent many cryptocurrencies into an end-of-week to try and reclaim some recently lost support levels.

After December's 3-year high at $1.32 and failure to hold the $1 support in mid-January, ADA has slid into a downtrend. February's market retraces sent the cryptocurrency's price below several key support zones, leaving the token hovering between the $0.60-$0.80 price range.

Following Trump's announcement, Cardano rose 60% in two hours, climbing from $0.64 to the $1 barrier for the first time in over a month. ADA continued its surge in the following hours, recovering over 80% from its Friday low of $0.58.

On Sunday, ADA hit a two-month high of $1.17 before retracing over 20% to the key $0.90 support zone. Sebastian, a Cardano investor, noted that the retest of the $0.92 level was "perfectly normal after such an insane move."

The investor suggested it could consolidate within the $0.90-$1.00 range for a few days before resuming its ascending trajectory. Moreover, he asserted that If ADA breaks above its December high, the token could likely see a new all-time high (ATH) soon.

"New highs are coming for ADA. It’s normal to retest levels after such a huge move. I expect some consolidation within the .90-.92 range for a few days, then continue. If we break the December high, we'll likely see a new all-time high soon."

Cardano's New High Could Be Near

According to crypto analyst Ali Martinez, his analysis indicates that Cardano "could be poised for a rally to $2.20."

According to the post, investors should "watch for a 12-hour candlestick close above $1.19" to confirm the bullish breakout and target an 84% jump from the breakout level.

Moreover, Martinez highlighted that Cardano whales bought over 420 million ADA in the past 24 hours, which could signal strong sentiment from large-scale investors on the cryptocurrency.

"The bulls are collecting ahead of the anticipated breakout. A 12-hour candlestick close above $1.19 would confirm the bullish breakout, targeting a move to $2.20.

"The chart never lies." So says Sjuul from AltCryptoGems as he noted that Cardano's chart displays a "big power of 3 in the making." This pattern divides the price cycle into three phases: accumulation, manipulation, and distribution.

The first phase consists of a consolidation near the recent high after a strong price performance. The second phase sees a token's price falling below the accumulation phase's support level and trades within a range below the recently lost zone.

In the third phase, a strong price breakout occurs, with momentum building and participants entering the market. According to Sjuul, the chart is now displaying the third phase as the token saw a strong pump on Sunday.

"The chart never lies. We are in the third phase: a strong breakout occurs, momentum builds, and more participants enter the market. The scene is set for a move to new highs, and we can expect to see a retest of the recent high.

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