$ADA Cardano (ADA) Price Eyes Breakout After Crypto Reserve Spike and Pullback

Key Takeaways

ADA trades inside a long-term range between $0.80 and $1.20.

The price attempts to break out from a descending parallel channel.

Has ADA reached its cycle top, or will it surge to new highs in 2025?

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ADA saw a massive boost from Donald Trump’s announcement of a strategic crypto reserve on March 2, soaring over 100% and culminating with a high of $1.17.

However, the price has fallen, invalidating a portion of the increase. This has increased worries that the surge occurred because of short-term hype around the announcement and is not sustainable.

Let’s examine the charts and see what lies ahead.