Cardano (ADA) Soars 16.48% Following Key Announcement

Cardano (ADA) has surged 16.48% over the past 24 hours, reaching $0.9379 and claiming the eighth position in market rankings. Data from CoinMarketCap indicates that ADA has risen 37.12% in the last seven days, helping it reclaim crucial 20-day and 200-day exponential moving averages (EMAs).

ADA Reclaims Key EMAs, Bullish Momentum Builds

This rally follows President Donald Trump’s announcement of ADA’s inclusion in the US Strategic Crypto Reserve, alongside Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL). The 20-day EMA at $0.8066 and the 200-day EMA at $0.7353 are now acting as key support levels for ADA. Maintaining levels above these indicates a strong bullish trend, validating positive sentiment among traders and investors.

Related: Trump Taps XRP, ADA for US Crypto Reserve, Ripple and Cardano Finally Get Along

Post-announcement, on-chain data shows that whales have accumulated over 420 million ADA tokens, highlighting institutional interest in ADA, as noted by crypto analyst Ali Martinez.

> Following @realDonaldTrump announcement of the US Strategic Crypto Reserve, whales accumulated over 420 million #Cardano $ADA!
> — Ali (@ali_charts) March 5, 2025

ADA Price Analysis: RSI Indicates Upside Potential

Analyzing ADA Price: The Relative Strength Index (RSI) is currently at 56.97, up from 44.56. This suggests ADA is neither overbought nor oversold, providing potential for further upside if buying pressure persists.

MACD Confirms Bullish Trend for Cardano

Additionally, the Moving Average Convergence Divergence (MACD) indicates bullish pressure, with the MACD line (blue) above the signal line (orange). The MACD histogram has also turned green after a bullish crossover, confirming ADA is in an accumulation phase with potential for price appreciation.

Cardano’s Strong Position in US Crypto Policy

According to the latest CryptoRank.io analysis, ADA is among the biggest beneficiaries of the US crypto policy shift, gaining traction due to solid blockchain capabilities and continuous development efforts, especially after recent policy discussions.

> Cardano $ADA is in a prime position, aligning with multiple key narratives in US crypto policy.
> — TapTools (@TapTools) March 5, 2025

Related: Cardano Target After Price Swings 72% Then Corrects: Analyst Forecasts $2.50 ADA by March 5

Being mentioned alongside BTC, ETH, XRP, and SOL reinforces Cardano’s stature as a major player in the crypto sector.

Disclaimer: The information in this article is for informational and educational purposes only. It does not constitute financial advice. Coin Edition is not responsible for any losses incurred due to the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.