On Sunday, Cardano (ADA) saw a massive 80% pump following the US President\u2019s announcement of a \u201cCrypto Strategic Reserve\u201d that will include ADA. As the cryptocurrency retests its key support levels, some analysts believe it might be poised for a 125% rally from current levels.<\/p>\n
On March 2, US President Donald Trump announced<\/a> the establishment of a \u201cUS Crypto Reserve\u201d comprised of Cardano, XRP, and Solana (SOL), with Bitcoin (BTC) and Ethereum (ETH) at the heart of the strategic reserve.<\/p>\n On his social media platform, Truth Social, Trump stated the strategic reserve would \u201celevate the critical industry after years of corrupt attacks by the Biden Administration.\u201d The announcement sent many cryptocurrencies into an end-of-week pump to reclaim some recently lost support levels.<\/p>\n ADA has been in a downtrend since December when it hit its 3-year high of $1.32 but failed to hold the $1 support in mid-January. The February market retraces sent the cryptocurrency\u2019s price below several key support zones, with the token hovering between the $0.60-$0.80 price range.<\/p>\n Following Trump\u2019s announcement, Cardano rose<\/a> 60% in two hours, climbing from $0.64 to the $1 barrier for the first time in over a month. ADA continued its surge in the following hours, recovering over 80% from its Friday low of $0.58.<\/p>\n On Sunday, ADA hit a two-month high of $1.17 before retracing over 20% to the key $0.90 support zone. Cardano investor Sebastian noted<\/a> that the retest of the $0.92 level was \u201cperfectly normal after such an insane move.\u201d<\/p>\n The investor suggested it could consolidate within the $0.90-$1.00 range for a few days before resuming its ascending trajectory. Moreover, he asserted that If ADA breaks above its December high, the token could likely see a new all-time high (ATH) soon.<\/p>\n Crypto analyst Ali Martinez stated<\/a> that Cardano \u201ccould be poised for a rally to $2.20.\u201d According to the post, investors should \u201cwatch for a 12-hour candlestick close above $1.19\u201d to confirm the bullish breakout and target an 84% jump from the breakout level.<\/p>\n Martinez also highlighted<\/a> that Cardano whales bought over 420 million ADA in the past 24 hours, which could signal strong sentiment from large-scale investors on the cryptocurrency.<\/p>\nADA\u2019s New High Could Be Near<\/h2>\n