Cardano Price Surges 60% After Trump’s US Crypto Reserve Announcement
Cardano (ADA) has increased by 60% after the announcement of President Trump's US Crypto Reserve, surpassing $1 for the first time in over a month. Key points include:
- Previous downtrend lasted six weeks before the announcement.
- MVRV Long/Short Difference indicator shows rising profits for long-term holders.
- Price action is currently in overbought territory according to the Relative Strength Index (RSI).
- Historical trends indicate that ADA may continue upward even when RSI is overbought.
- To sustain bullish momentum, ADA must hold the $1.00 support level.
- If it fails to hold, potential drop to $0.85 is possible.
- Securing $1.00 as support could lead to further price increases.
Monitoring the $1.00 level will be crucial for determining Cardano's future performance.