Cardano (ADA) is currently one of the best-performing cryptocurrencies among the top 100 projects by market cap in weekly charts. The asset has rallied 5.5% in the daily charts, 32.4% in the weekly charts, 26.6% in the 14-day charts, and 118.3% since January 2024. Despite the rally, ADA’s price is down by 3.9% over the previous month.

While ADA has rallied more than 32% over the last week, Bitcoin (BTC) has rallied by 8.2%, XRP by 18.4%, and Solana (SOL) by 11.5%. The figures show that ADA may be back on track for new highs.

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Why Is Cardano Rallying?

ADA’s latest rally follows BTC’s rise to the $101,000 price level. The cryptocurrency market seems to be recovering from its recent correction. The market dip was likely triggered by the Federal Reserve’s hawkish stance after inflation in the US rose to 2.7%. The Fed announced only two interest rate cuts in 2025 instead of three. ADA and other assets faced a significant correction following the Fed’s announcement.

President-elect Donald Trump will assume office later this month. Trump’s inauguration will take place on Jan. 20, 2025. Many anticipate a market-wide rally after Trump takes charge due to his pro-crypto and pro-business stance. ADA and other assets may rise to new highs following his inauguration.

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Will The Asset Reclaim Its All-Time High Of $3.09 In Q1 2025?

According to CoinCodex, Cardano (ADA) will consolidate around current levels for the rest of January 2025. The platform anticipates the asset to break into a rally by early February 2025. According to CoinCodex, ADA will hit $2.88 on Mar. 19, 2025. The platform does not expect ADA to breach the $3 mark in Q1 2025. Hitting $2.88 from current price levels will entail a rally of about 152.63%.

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There is a possibility that ADA will breach the $3 mark following Trump’s inauguration. Many anticipate lenient crypto regulations under his leadership. We may be in the early stages of an extended bull run.