March 6, 2025 05:27:45 UTC
Why Cardano Price is Up Today?
Cardano (ADA) appears set for a potential near-term rally, with analysts suggesting a massive 125% surge to multi-year highs above $2.0. This bullish outlook follows intense whale activity, with over 420 million ADA tokens acquired in just 24 hours. The rally was further boosted by former President Trump’s announcement of plans for a U.S. Strategic Crypto Reserve, which may include Cardano. Although ADA experienced a sharp 70% price jump before settling back near $0.94, it has broken its multi-week downtrend and is poised to retest December highs around $1.30. With technical indicators pointing to a potential move to $2.20, strong investor sentiment and strategic whale positioning could drive Cardano toward a robust recovery, even amid challenging macro conditions.
