RSI at 37 and weak volume suggest ADA lacks a confirmed momentum shift.
The chances of a spot Cardano ETF approval have surged to 90%, according to analysts at Bloomberg. This sharp increase has put the cryptocurrency in the spotlight as investors consider the potential impact on ADA’s price trajectory.
Despite the optimism surrounding institutional entry, Cardano remains under pressure on the charts. Analysts are closely watching technical indicators for any sign of a shift in momentum. Until a clear breakout occurs, ADA continues to trade within a bearish zone.
Bloomberg analysts now believe the U.S. Securities and Exchange Commission may approve a Cardano spot ETF by 2025.
The updated 90% probability has sparked renewed attention on ADA, suggesting that institutional capital could soon enter the ecosystem. Market watchers expect this development could reshape demand for ADA, especially among long-term holders.
Coin Bureau shared the news on social platform X, noting that large-scale investment could follow an official ETF nod. If realized, Cardano would join the ranks of Bitcoin and Ethereum, both of which have seen ETF-driven volume boosts.
The potential listing adds to the growing narrative of mainstream adoption in the crypto sector.
Despite ETF optimism, ADA continues to trend downward. It closed Monday near $0.5617, down over 1.8% on the day. Since mid-May, the asset has posted lower highs and lower lows, confirming a persistent bearish structure.
Technicals show ADA trading beneath its Ichimoku cloud, a zone often viewed as resistance. The price is also holding near the lower Bollinger Band, reflecting weak buying pressure and shrinking volatility. Both indicators suggest that sellers remain in control.
While the broader trend remains bearish, subtle shifts in momentum are emerging. The MACD histogram has turned slightly positive, suggesting a possible crossover is forming. However, the MACD and signal lines both remain below zero, keeping sentiment cautious.
The Relative Strength Index sits around 37, showing mild bearish momentum but not an extreme sell-off. A gradual curve upward has started, but no confirmed reversal is in place. Without volume support, analysts believe the signs remain inconclusive.
A move above $0.59 to $0.60 could trigger renewed bullish interest, as this zone includes the mid-Bollinger Band and Ichimoku baseline. These levels serve as key resistance, and a breakout with increased volume would be needed to confirm a trend shift.
Until then, traders remain cautious, watching for a squeeze or reversal pattern. With ADA still below major resistance zones, the market is waiting for a clearer signal before making decisive moves.
