Cardano (ADA) continues to rise in price and is steadily approaching $1, a level it has not reached since March 2022. The cryptocurrency of the eponymous network entered a bullish cycle, after its co-founder, Charles Hoskinson, declared that would have a role in Donald Trump’s government in the United States.
As CriptoNoticias already reported, the computer scientist announced that he will spend much of his time in 2025 “working with legislators in Washington, DC, and a lot of time working with members of the administration to help promote and facilitate, along with other key industry leaders , cryptocurrency policy.” It is important to clarify that, for now, Trump made no official announcement on the matter..
In this context, the ADA quote woke up from a long sleep and so far this month registers a rebound of more than 80%. At the time of publication of this note, the price of the digital currency of the Cardano ecosystem is $0.79.
Although still far from the all-time high (ATH) of $3.10, market sentiment is positive and Its community maintains the expectation of exceeding the price of 1 dollar.
In this framework, the market analyst identified in Sssebiindicated that ADA had a slight setback in the last hours but explained the reasons for this movement. “This type of consolidation is usually extremely bullish. Another move up from here could take ADA to $1,” he noted.
Furthermore, and to support his analysis, he shared a chart showing that ADA price is facing key resistance at the $0.757 level. According to his interpretation, if the price manages to stay above the critical support at $0.706, it is possible that it will regain the bullish momentum needed to try to overcome the current resistance and advance towards levels close to $0.90 or more. In his opinion, this behavior would reinforce the positive outlook in the short term.
As explained in Criptopedia, the educational section of CriptoNoticias, it is defined resistance as a price level that an asset cannot easily overcome. These levels tend to be repeated throughout the history of the same asset.
The resistance is mainly due to market psychology factors. Every time the price of ADA reaches that level, traders consider the price of the cryptocurrency to be high and therefore choose to sell it.
The chart also highlights a white line located at $0.518, which represents the support level for the cryptocurrency. That area acts as a kind of floor that the price of an asset collides with to bounce parabolically or stabilize.
The optimism of the ADA community
On the social network redditseveral users have expressed your excitement over the recent surge in activity on the Cardano network. According to what they say, this increase not only reflects greater use of the network, but also renewed interest on the part of investors and developers in that environment.
For example, the user coinfeeds-bot said: “The price surge, driven by retail FOMO (fear of missing out), saw ADA hit a three-month high of $0.617. Retail trading volumes increased by 160% and unique ADA addresses increased significantly. “Whale activity also increased, with large transactions reaching a two-month high.”
At the same time, he highlighted the fact that ADA once again positioned itself as the ninth largest cryptocurrency on the market with a market capitalization of more than $25 billion.
For his part, another member of the community known as aside24took a step further and said: “It is a matter of time before we reach $3 again. And then we’ll see how much is left in the tank. Good times for sure.”
However, and beyond the optimism of its community, for ADA to return above $3, Its market capitalization should be $105 billion.. If it achieves this, it would rank as the fifth most valuable cryptocurrency, which reflects that there is still a long way to go.
Another reason influencing the ADA rally is the rise in bitcoin (BTC) so far this month. Generally, the good performance of the currency created by Satoshi Nakamoto optimism spreads in the cryptocurrency market and awakens investors’ appetite for risk.
On the other hand, with Trump’s victory and the departure of Gary Gensler as head of the Securities and Exchange Commission (SEC), a big question arises for the cryptocurrency community and the market in general about what the ADA rating will be in the future. In the lawsuit against the Binance exchange, the organization indicated that it considers it an unregistered security (security) and Therefore its sale should be prohibited..
This phenomenon is a sign of the immediate reaction to Trump’s promises to promote friendly regulation and the corresponding reevaluation of the usefulness of cryptocurrencies that were classified as securities by the SEC.
Regarding the latter, and always according to his words, Hoskinson confirmed that they are going to work with industry leaders to create proposals and thus promote the growth of the sector in the United States. He also detailed:
“Pass a bipartisan law that provides absolute clarity on when things are securities and when they are commodities, helping us navigate the often tumultuous and chaotic waters of DeFi, and get to a point where we can do business again.”
Charles Hoskinson, co-creator of Cardano.
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