The crypto markets became bullish as the United States voted Donald Trump to be the new president. Bitcoin price triggered a fine upswing and marked a new ATH above $81,800, which circulated a bullish wave across the markets while the ADA price remained less impacted. However, the rounds of Cardano’s founder working with the new administration on the Crypto policies in the coming year may have induced huge confidence on the platform as the traders jumped in in large numbers to accumulate.
In a recent podcast, Cardano founder, Charles Hoskinson has confirmed becoming Trump’s crypto advisor aiming to address the regulatory uncertainty. With this, the ADA price broke out of a prolonged consolidation after reaching the edge of the descending consolidation. The trading dynamics of the token have changed to a large extent after the move and hence a rise to $0.8 and $1 appears to be imminent in the next few days. Now that the price has risen above the bearish pattern, the Cardano price is expected to remain inflated and barge in beyond the ATH soon.
The ADA price broke out from the decisive symmetrical triangle after consolidating along the resistance for a 7-month-long consolidation. The price surged from levels below 0.23 FIB to as high as 0.618 FIB to reach levels beyond $0.6 However, the price failed to rise above the Gaussian channel which has turned bearish since the start of Q4 2024. On the other hand, the DMI which had undergone a bullish crossover has displayed a bearish divergence.
Therefore, the Cardano price rally is expected to kick off, but before that, a small pullback below $0.45 is expected to materialise in the coming days. However, in the first few weeks of 2025, the market participants may become more optimistic, expecting crypto-friendly regulations in the state. This could offer a breakthrough for the ADA price rally, which may demonstrate a 2021-like rally of over 12,000%, rising above a double-digit figure to form a new ATH.
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