Cardano (ADA) Price Potentially Rises to $1.9 Per Coin

Bittime - Cardano (ADA), the native cryptocurrency of the Cardano blockchain, is showing strong bullish momentum with a price increase of 70% in the last 24 hours. 

ADA Enters the U.S. Crypto Strategic Reserve

This spike occurred after ADA was included U.S. Crypto Strategic Reserve, which sparked optimism in the crypto market. Analysts believe that ADA price may continue to increase in the next few weeks.

ADA Price Breakout Analysis

This latest increase made ADA break out of the pattern bullish flag and pole on the weekly chart. This pattern began to form in December 2024, when ADA experienced a downward trend before finally surging sharply recently. With a price increase of 70%, ADA managed to cross the boundary of the bullish formation, opening the opportunity for a further increase of up to 90%.

Experts state that if ADA is able to maintain this momentum and close the weekly candle above the $1.05 level, the next price target is at $1.90. 

If achieved, this would be a significant increase of 90% from current price levels, making ADA an attractive investment option.

Current Cardano Price Momentum

Currently, ADA is trading around $1.05, recording a remarkable rise of 70% in the last 24 hours. Most of this spike occurred in the last two hours, indicating strong buying interest and high market participation. 

ADA trading volume also surged by 800%, reflecting increased investor activity following the strategic announcement.

ADA to USDT via Bittime

Additionally, ADA has managed to break the 200 Exponential Moving Average (EMA) on the daily chart. This technical indicator is often considered a sign of trend reversal from bearish to bullish. By crossing this important level, ADA provides an initial signal that a new bullish trend may be underway.

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What's Next for Cardano (ADA)?

The sustainability of ADA's price rise will largely depend on its ability to stay above the $1.05 support level. If this level is maintained, the next resistance target is $1.90. 

Based on historical trends and current market conditions, there is great potential for prices to continue to rise.

Support from U.S. Crypto Strategic Reserve also lends additional credibility to ADA's long-term prospects. This move by the US government increases positive sentiment among investors and could encourage further buying action.

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Supporting Factors for Cardano Price Growth

ADA's price increase is not only driven by technical factors but also by broader market sentiment. ADA entry inside U.S. Crypto Strategic Reserve indicating there is institutional interest in this asset, which could have a long-term impact on its price.

Additionally, the development of Cardano's blockchain ecosystem continues to be a major attraction for investors. 

With upcoming technology updates and increasing adoption, Cardano has a great opportunity to expand its use cases and strengthen its price growth.

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Conclusion

Cardano (ADA) has shown incredible performance with a 70% price surge in a short time after inclusion U.S. Crypto Strategic Reserve. 

Technical analysis suggests upside potential of up to 90%, with a price target of $1.90 if bullish momentum continues. Positive market sentiment and institutional support further strengthen ADA's growth prospects.

With the ongoing bullish trend, Cardano is one of the crypto assets worth paying attention to for investors who want to take advantage of this upward price momentum.

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FAQs About Cardano (ADA) Price

1. What caused Cardano (ADA) price to rise 70%?

Cardano (ADA) price saw a 70% spike after being included U.S. Crypto Strategic Reserve, which increased optimism in the crypto market and attracted the attention of investors.

2. What is the next price target for ADA?

If ADA can maintain momentum and close the weekly candle above $1.05, the next price target is expected to be $1.90, reflecting a potential upside of 90% from current levels.

3. What factors influence Cardano price growth?

Cardano's price growth was influenced by positive market sentiment, institutional support from the US government, as well as developments and updates in the Cardano blockchain ecosystem that increased adoption and use of the token.

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Reference

MikeT, Cardano (ADA) Sees 70% Surge, 90% Growth Expected, Accessed March 3, 2025

Author: IN