) has recovered strongly, bouncing 60% from a low of $0.64 on March 2 to reach a 12-week high of $1.19. The rebound comes after President Donald Trump directed a working group to “move forward” with establishing a Crypto Strategic Reserve including Solana (SOL), XRP (XRP) and ADA.

Let’s take a closer look at all the main factors driving ADA price up today.

The most immediate catalyst for Cardano’s price surge today is US President Donald Trump’s executive order on the establishment of a Strategic Crypto Reserve.

What to know:

ADA’s rally on March 3 was preceded by notable accumulation among large investors, often referred to as whales, according to data from market intelligence firm Santiment.

Key points:

Additionally, DappRadar reveals an increase in unique active wallets (UAWs) on Cardano, which suggests fresh capital inflows.

• This is also evidenced by the growing total value locked (TVL) on the Cardano network. 

• This metric has jumped by 54% from $323 million on March 2 to $499 million on March 3. 

Cardano’s rally on March 2 saw it flip key levels into support, including all the major moving averages and the psychological level at $1.00.

Data from Cointelegraph Markets Pro and TradingView showed ADA price trading above this level at $1.05. 

“Cardano just executed a high-volatility breakout, pushing past key liquidity zones!” said pseudonymous analyst Arvid Crypto in a March 3 post on X. 

ADA price is now “forming a potential bullish consolidation around $1.05,” the analyst said, adding that the altcoin has to hold above $1.00 to continue the “next leg up.”

“If this level holds, expect a continuation toward liquidity grabs above.”

“ADA showing strong consolidation around $1.06-1.07 after that impressive 61% surge,” said popular crypto analyst Kwantxbt adding that the decreasing volume indicates entry into an accumulation phase. 

For Kwantxbt, key levels to watch for ADA price are the resistance at $1.19 on the upside and the immediate support at $1.05 on the downside.

“Looking bullish with potential for another leg up if it holds above $1.05.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.