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Cardano Price Soars 7% as Trump Says He Negotiated Israel-Iran Truce
- Cardano (ADA) experienced intense selling pressure, dropping close to $0.50 support level, but surged 5% on June 24, 2025, sparking interest among traders and investors.
- The sudden spike in ADA price raised questions about whether it is reaching a bottom or just enjoying a temporary relief rally, prompting analysis of chart patterns and key levels.
- ADA's price surge seems to be driven by geopolitical news, particularly President Trump's claim of brokering a ceasefire between Israel and Iran, boosting investor sentiment and leading to a 7% jump in ADA price.
- Technical indicators like RSI and Heikin Ashi candles suggest a potential bullish reversal for ADA, but breaking key resistance levels at $0.59 and $0.63 is crucial for further upside.
- The article emphasizes the importance of sustained volume support for ADA's rally to continue, highlighting resistance levels at $0.70 and support at $0.50 and $0.42.
- Although ADA shows signs of short-term strength, a confirmed trend reversal would require breaching and holding above $0.60 and $0.63, with $0.70 identified as a significant resistance level.
- Traders are advised to monitor ADA's price action closely for volume confirmation and a decisive close above $0.60 to validate a potential breakout from the current bearish trend.
- The article provides a brief overview of how to buy Cardano (ADA) on Bitget, outlining steps such as creating an account, verifying identity, depositing funds, and executing ADA purchases.
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