title: Cardano's ADA Among Major Altcoin Gainers, Posting an Impressive 40% Rally

Cardano's ADA is among the major altcoin gainers, posting an impressive 40% rally in just 24 hours and hitting $1 after over a month.

Cardano’s ADA token has shot up 40% in the past 24 hours, reaching $1 for the first time since early August. The major altcoin is among the best performers today, with its gains closely following U.S. President Donald Trump’s announcement of the Crypto Strategic Reserve that would include ADA, Solana (SOL), XRP, and Bitcoin.

President Trump’s executive order to create a cryptocurrency reserve has sparked huge interest in the market, with traders keen to learn more about how it will work and which tokens will be included.

President Trump’s executive order to create a cryptocurrency reserve has sparked huge interest in the market, with traders keen to learn more about how it will work and which tokens will be included.

Earlier this week, Charles Hoskinson, the founder of Cardano, hinted at the possibility of using ADA to power transactions on another chain, such as Bitcoin, and pay the gas fees, boasting that it would “bring levels of adoption never seen in the history of the Cardano network.”

This statement may have inspired speculation that ADA could be used to pay the gas fees for BTC transactions within the U.S. president’s administration’s crypto reserve.

This statement may have inspired speculation that ADA could be used to pay the gas fees for BTC transactions within the U.S. president’s administration’s crypto reserve.

If true, this development could significantly enhance ADA’s utility, driving its adoption at levels not seen in the history of the Cardano network.

If true, this development could significantly enhance ADA’s utility, driving its adoption at levels not seen in the history of the Cardano network.

The 8th-ranked token has now retraced to retest the crucial support area around $0.92. Such a move is perfectly normal after its recent explosive price surge.

The 8th-ranked token has now retraced to retest the crucial support area around $0.92. Such a move is perfectly normal after its recent explosive price surge.

This retracement provides an opportunity for ADA to consolidate, potentially establishing a new base for its next upward movement. Traders anticipate ADA may remain within this support range for a few days, allowing for market stabilization and accumulation.

Key Level To Watch

The previous high of $1.32 is a key level to watch. A clean break above this resistance could signal a strong continuation of the bullish trend, propelling ADA toward a new all-time high. Traders should also keep an eye on volume, which is a crucial factor in confirming any future price movements. A surge in trading activity is expected to accompany a successful breakout.

Technical Analysis

The day-old chart suggests a period of consolidation before a potential upward move. The RSI (Relative Strength Index) at 42.96 indicates that ADA is not overbought, leaving room for further growth.

The day-old chart suggests a period of consolidation before a potential upward move. The RSI (Relative Strength Index) at 42.96 indicates that ADA is not overbought, leaving room for further growth.

On the other hand, the SMA (Simple Moving Average) lines also fit the recent price correction, with the 5 SMA crossing below the 50 SMA, signaling a short-term bearish trend. However, this could be a temporary pullback before a resumption of the overall bullish momentum.

On the other hand, the SMA (Simple Moving Average) lines also fit the recent price correction, with the 5 SMA crossing below the 50 SMA, signaling a short-term bearish trend. However, this could be a temporary pullback before a resumption of the overall bullish momentum.

Investors are closely monitoring ADA’s ability to hold the $0.92 support and break above $1.32. The outcome will determine whether ADA enters a prolonged consolidation phase or embarks on a new rally toward uncharted territory.