- Cardano trades near $0.85, consolidating ahead of the SEC’s ADA ETF ruling expected to influence short-term and institutional sentiment.
- A confirmed breakout above $0.95 could trigger a 50% rally toward $1.3, supported by improving technical indicators.
- The SEC’s pending decision on ADA ETFs may boost institutional demand, strengthening Cardano’s position in regulated crypto markets.
Cardano’s market performance is drawing attention as the cryptocurrency trades within a narrowing range while anticipation rises ahead of the SEC’s upcoming ETF ruling. The price has stabilized around $0.85, reflecting a cautious buildup of buying pressure. Market indicators show tightening movements that often precede a decisive breakout phase.
However, Cardano is currently trying to escape a downward trend channel that has been defining the trend over a few weeks. The high resistance, which is close to 0.95, has turned into a key movement of the traders. A verified upward break of this level may open a possible 50 percent upsurge, with the aim being the 1.3 area. This forecast is in line with longer-term technical highlights that show the market will keep on moving upwards in case market sentiment improves.
Possible Recovery before a Pullback Attempt.
Nonetheless, when ADA has not cleared its resistance, a short-term correction might be witnessed. Analysts observe that it is still possible that the market is headed back to $0.75 before fresh buying interest sets in. This trend is similar to that of a compression pattern, where low volatility is usually followed by large movements in the market. As a result, the following sessions can determine the trend of Cardano in the medium term.
Source: TradingView
The upcoming SEC decision on Grayscale’s ADA ETF, scheduled for October 26, has become a focal point for investors. The ruling could open the door for broader institutional participation and enhance Cardano’s presence in regulated markets. Moreover, the delay surrounding the decision has contributed to a wave of cautious optimism within the crypto sector.
ETF Filings Reinforce Market Confidence
Other funds, such as REX Shares and Osprey Funds, have also recently filed applications for 21 single-asset crypto ETFs, including a Cardano-specific fund. Such applications that also include tokens like HYPE, XLM, and SUI are a significant milestone in the approach to crypto investment accessibility. In this regard, the inclusion of ADA as a network is an important sign of its increased visibility as a network with potential and utility in the long term.
Altogether, the tightening price system of Cardano and ETF-based sentiment are indicative of a critical period. The moment a breakout of the length of time over the $0.95 would prove the beginning of a bullish period that might lead to the prices reaching the $1.3 level. Therefore, the future SEC decision is one of the landmark moments that can determine the future market direction of ADA.
