Cardano Surges 75% After U.S. Crypto Reserve Inclusion
1min read Cardano (ADA) has experienced a significant surge in price today, driven by multiple factors that have sparked excitement in the market. The cryptocurrency has gained substantial traction, with technical indicators suggesting further potential for growth in the coming weeks.
One of the key factors contributing to Cardano's price increase is its inclusion in the U.S. Crypto Strategic Reserve. This move has sparked major excitement in the market, as tokens that could be included in the reserve have seen significant price gains. In the last 24 hours, Cardano (ADA) surged by 60.6%, XRP jumped by 31.7%, and Solana (SOL) rose by 22.6%. President Trump later confirmed that Bitcoin (BTC) and Ethereum (ETH) would also be part of the reserve, with both rising by 9.9% and 12.1%, respectively.
Following the announcement, Cardano's price skyrocketed by 75%, rising from a low of $0.6461 to $1.13, according to Coinmarketcap. The token's trading volume surged by a massive 1,450% in the last 24 hours, pushing its market capitalization close to $40 billion. Notably, the entire crypto market's value jumped nearly 10%, reaching a $3.1 trillion market cap, while trading volumes surged by 150% to $190 billion.
On-chain analyst Ali Martinez shared in a recent post that whales bought nearly 200 million Cardano in the last 24 hours, further contributing to the token's surge in price. Cardano is among the top gainers today, with its massive price increase.
The recent rally has pushed ADA past a bullish flag and pole pattern on the weekly chart, which started in December 2024. After a downtrend, today's sharp upward move lifted ADA by 70%, breaking out of this pattern and setting the stage for a potential 90% rally. Experts believe that if ADA can stay above $1.05 by the end of the week, it could reach its next target of $1.90, marking a potential 90% gain from its current price. Additionally, ADA has broken above the 200 Exponential Moving Average 