Cardano ADA Price Surges on Strong Bullish Momentum

Charles Hoskinson’s Vision Boosts ADA Price

Cardano (ADA) has seen a remarkable recovery, with its value surging by over 80% in the past week. This surge is supported by a variety of factors, including the ambitious plans of Cardano founder Charles Hoskinson.

Focus on American Stakeholders

Hoskinson has highlighted the crucial role of American stakeholders in shaping crypto policies. He is working on establishing a policy office at Input-Output headquarters to engage in policy development and collaborate with key figures, with the aim of creating a bipartisan bill that provides clear regulatory guidelines for crypto companies.

Increased Activity and Whale Interest

After Donald Trump’s return to the White House, there has been a surge in activity on the Cardano network. Daily active addresses have risen by 133%, and social volume has increased by 106%. Large transaction volume has also spiked, hinting at heightened whale activity during the recent price rally.

Potential 50% Rally for ADA Price

Analysts predict a 50% rebound for ADA price, as the NVT ratio signals a potential breakout. The recent decline in the NVT ratio indicates that transaction volume is outpacing the network value, suggesting an undervaluation of ADA price and potential price increases in the near future.

Technical Analysis and Price Outlook

Cardano has broken through the $0.65 resistance level and is currently trading at $0.59. Maintaining support above $0.6 could push the price towards $0.67 and potentially beyond. However, a drop below the EMA50 trend line could lead to a broader trading range between $0.4 and $0.55.