- Cardano (ADA) surged 15% this week, climbing back above $1 amid renewed optimism tied to Trump’s upcoming inauguration.
- Speculative trading is booming, with ADA futures seeing a $90 million inflow, outpacing its spot market gains by 9%.
- If ADA breaks above the $1.20 resistance level, analysts predict it could rally toward $1.30, but a failure could lead to a pullback to $0.99.
Cardano (ADA) has been making headlines again, bouncing back above $1 as market enthusiasm rises around Donald Trump’s upcoming inauguration. Investors are eyeing the charts, wondering if ADA will break through its $1.20 resistance in the days ahead, as speculative trading activity heats up.
Trump’s Inauguration Sparks Momentum
After a choppy start to January, Cardano’s price is riding a wave of optimism, surging nearly 15% since Monday. From a weekly low of $0.87, ADA rebounded strongly to hit $1, thanks to renewed investor focus on Trump-linked altcoins and speculation about potential blockchain-based government projects.
Speculation Drives Big Money into ADA Futures
Speculative trading is taking center stage, with $90 million pouring into ADA perpetual futures in just 24 hours. Open interest surged from $1.07 billion to $1.16 billion—a 9% increase that outpaces its 7% spot market gains, signaling bullish momentum in derivatives markets that could translate into spot price growth.
Will ADA Break $1.20?
From a technical perspective, ADA’s recent move above the Volume Weighted Average Price (VWAP) and a sharp rise in trading volume to 354 million suggest a bullish breakout could be on the horizon. A sustained rally could push ADA to test the $1.20 resistance, and if that level holds, it might climb toward $1.30. But a failure to maintain momentum above $1 risks a retrace to $0.99 or even $0.82.
Final Thoughts
The buzz surrounding Trump’s inauguration, alongside Cardano’s speculative demand, is driving optimism for further upside. While technical indicators look promising, traders should watch closely for a break above $1.20 to confirm a sustained rally—or signs of a pullback if momentum fades.
