ADA Smashes $1 Barrier in Historic Rally
1min read Cardano, the third-generation blockchain platform, has made a significant breakthrough with its native cryptocurrency, ADA, smashing through the $1 barrier in a remarkable rally. After more than six weeks of trading below $1, ADA has achieved a key milestone, reaching approximately $1.00 and even touching a high of $1.13, reflecting a 55% growth over the past 24 hours.
The rapid spike in ADA's price has excited investors and sparked speculation about a possible momentum shift in the Cardano ecosystem. This surge in interest comes amidst global political developments and a growing appetite for digital assets. Traders have observed a bullish flag and pole pattern forming on ADA's weekly chart, which has now been confirmed with the breakout above $1.00. The trading volume has skyrocketed by nearly 800% within 24 hours of the rally, indicating strong investor confidence.
One of the key technical indicators, the Relative Strength Index (RSI), has entered the overbought zone, typically suggesting a possible price pullback. However, historical data suggests that ADA's trend often continues rather than reversing immediately when the RSI reaches overbought levels. This implies that the rally might have further room to grow instead of a quick drop.
One major reason behind Cardano's sudden price jump is the announcement of the US Crypto Strategic Reserve. Former President Donald Trump revealed that this reserve would include Cardano, Bitcoin, Ethereum, XRP, and Solana, among other cryptocurrencies. Although details are still unclear, early reports suggest that the government will use confiscated crypto assets from law enforcement operations instead of making fresh purchases. Legal experts are debating whether Congress will need to approve this initiative, creating uncertainty about its execution. Despite these concerns, the market has responded strongly to Cardano's inclusion in the reserve.
The surge in investor interest has led to an 800% increase in ADA's trading volume, reinforcing confidence in its long-term value. ADA's price movement in the coming days will depend on whether it can hold key support levels and break through major resistance zones. Analysts are closely watching the following price points: $1.00, which now acts as strong support; $1.15 - $1.20, a key resistance zone where many traders expect profit-taking; and $1.9 