Cardano (ADA) is down more than 6% on Thursday but remains up nearly 40% over the past seven days. After surging to $1.15 following its inclusion in the US crypto strategic reserve, ADA has struggled to stay above $1 in recent days.

Some users are now questioning its inclusion in the reserve, raising concerns about its price. With whale accumulation slowing and resistance at $1 proving difficult to break, ADA’s next move will depend on whether bullish momentum can return or if selling pressure pushes it lower.

ADA ADX Shows The Uptrend Is Still Strong, But It’s Not As Strong As Before

Cardano has an ADX of 32.5, down from 43.7 three days ago, following a price surge driven by ADA’s inclusion in the US crypto strategic reserve.

Despite the decline in ADX, it remains above the 25 threshold, indicating that the ongoing uptrend still has strength, though momentum has slightly weakened.

The Average Directional Index (ADX) measures trend strength on a scale from 0 to 100, with readings above 25 signaling a strong trend and values below 20 suggesting weak or nonexistent momentum.

With ADA in an uptrend and ADX at 32.5, the trend remains intact but may not be as strong as it was three days ago.

If ADX continues to decline, the trend could lose momentum, leading to a potential slowdown or consolidation. However, if ADX stabilizes or rises again, ADA could maintain its upward trajectory and push toward new resistance levels.

Cardano Whales Are Not Accumulating

The number of Cardano whales – addresses holding between 1 million and 10 million ADA – has declined slightly in the past few days after a strong increase between March 1 and March 4, when it rose from 2,442 to 2,471.

The count now stands at 2,463, indicating that some large holders have reduced their positions following the recent surge. This may have been influenced by the crypto community questioning the inclusion of ADA and XRP in the US crypto strategic reserve.

Tracking these whales is important because large holders can influence market liquidity, volatility, and price trends. A rising number of whales often signals accumulation, which can drive prices higher, while a decline suggests potential profit-taking or reduced confidence.

With the current whale count slightly below its recent surge, ADA’s recent uptrend could slow if more large holders begin selling. However, if accumulation resumes, it could support continued price gains.

Will Cardano Test $1 Soon?

Cardano’s EMA lines indicate a bullish trend, with short-term EMAs positioned above long-term ones.

However, despite this positive setup, Cardano price has struggled to break above $1 in recent days after a sharp correction following its 71% surge on March 2. This suggests that while momentum remains intact, resistance at $1 is proving difficult to overcome.

If the current uptrend reverses into a downtrend, ADA could test support at $0.818, with a break below that level potentially leading to $0.75. A stronger selloff could push the price as low as $0.63 or even $0.58.

On the other hand, if ADA regains momentum, it could test $1 again, and a breakout above this key resistance could send the price toward $1.17, a level it nearly reached during the March 2 surge.

Texas Bitcoin Reserve proposal passed a Senate vote with 25 out of 30 votes in favor. It will require another vote in the House of Representatives to reach the Governor and become law, but the progress is very encouraging.

Several other state-level reserve proposals failed due to Republican Party defections. In Texas, however, most Democrats voted in favor. This bill does not trigger mandatory Bitcoin purchases yet, which was a major sticking point with fiscal conservatives.

Texas Could Get a Bitcoin Reserve Soon

Throughout several states in the US, pro-crypto lawmakers are trying to pass small-scale Bitcoin Reserves. Texas’ effort has been a particular point of interest, and the state’s Lieutenant Governor has enthusiastically supported the proposal.

Last week, the Bitcoin Reserve bill in Texas passed through Committee, and today, it succeeded a Senate vote 25-5.

“The Texas Bitcoin Reserve Bill passed the Senate with some Democrat support. (The final vote was 25 – 5, and there are 11 Democrat Senators). If there is similar cross-aisle support in the House, then the bill’s prospects for success are good,” a legislative watchdog claimed on social media.

The effort to pass a Bitcoin Reserve in Texas has been an important piece of crypto regulation for several reasons. Obviously, Texas is a large and economically vital area, with the second-largest GDP of all US states.

Additionally, this effort represents a crucial chance to defeat a losing streak in state-level Reserve bills.

Essentially, these bills would trigger up to $23 billion in Bitcoin purchases nationwide, which thrilled the crypto community. There’s just one problem: the Republican Party values fiscal conservatism.

Montana lawmakers rejected spending tax dollars on Bitcoin, and a wave of other red states followed soon after.

Crucially, however, Texas’ Bitcoin Reserve proposal did not mandate this spending. If the state government wishes to purchase Bitcoin, ideally from the large local mining industry, it can do so.

However, approval at this stage does not inevitably trigger this sort of spending, and now Texas can join states like Utah and Arizona as the leaders in this race.

What’s Next for the BTC Reserve Bill in Texas?

Despite today’s win, the fight for a Texas Bitcoin Reserve is far from over. The bill will now move to the state’s House of Representatives, which has more than five times as many members.

More specifically, the Texas House of Representatives has 89 Republican members and 62 Democrats. In theory, this should be a clear win, as Republicans are largely pro-crypto.

However, this wasn’t the case in Montana, North Dakota, South Dakota, Pennsylvania, and Wyoming, where several Republican members voted against the respective BTC reserve bills.

The Texas bill passed the Senate with near-unanimous support, but it might be more contentious before a larger body. In any event, it’s a win, and the Bitcoin Reserve efforts could use a victory right now.

AI coins remain a key narrative in the market, with several projects showing strong momentum despite broader sector correction. Internet Computer (ICP) has struggled over the past month, but its decentralized infrastructure could become very relevant in the AI space.

Alchemist AI (ALCH) has surged recently, benefiting from growing interest in no-code AI solutions. Story (IP) is one of the most trending AI coins, up 79% in the last 30 days, and it has the potential to reach new all-time highs if market sentiment continues to favor AI-driven projects.

Internet Computer (ICP)

The Internet Computer (ICP) is a decentralized platform that hosts secure, network-resident code and data, allowing developers to build web applications without relying on Big Tech or traditional IT infrastructure.

The platform supports a wide range of use cases, including web3 social media, games, DeFi, multi-chain applications, secure front-ends, ledgers, enterprise solutions, and AI models.

ICP is down more than 13% in the last 30 days, with its market cap now below $3 billion. If the current downtrend continues, ICP could test support at $6, and a break below that level could push it to $5.88, with a stronger selloff leading to $5.62.

On the upside, if momentum shifts and the trend reverses, ICP could test resistance at $6.82, with a breakout potentially sending it to $7.27 and $7.45.

Alchemist AI (ALCH)

Alchemist AI is a no-code development platform that allows users to create software applications using simple descriptions.

Its native coin, ALCH, runs on the Solana blockchain.

ALCH has surged more than 34% in the last 24 hours and over 54% in the past seven days, bringing its market cap to $60 million – its highest level since the end of January. If the uptrend continues, ALCH could test resistance at $0.0748, with a breakout potentially pushing it to $0.116 or even $0.18, its highest level since mid-January.

However, if momentum fades and a downtrend forms, the AI coin could test support at $0.059, with a break below that level potentially leading to $0.045. A stronger selloff could send the price as low as $0.021, marking a possible 70% correction.

Story (IP)

Story has been one of the most trending artificial intelligence coins in recent weeks, gaining 79% in the last 30 days despite the broader crypto market correction and AI coins such as VIRTUAL correcting by 50% in the same period.

Its market cap is now close to $1.3 billion, with daily trading volume around $150 million.

If AI coins regain momentum as they did a few months ago, Story could benefit and test resistance at $6.96 and $7.99, potentially surpassing $8 for the first time and reaching new all-time highs.

However, if momentum fades, Story could lose support at $5.00, with a drop to $3.60 as the next key level. A deeper correction could send the price as low as $2.12, marking a significant retracement from its recent surge.