Cardano’s 10% weekly timeframe price decline stabilized near $0.82 on Saturday after Grayscale filed registration statements with the SEC for new ADA and Polkado (DOT) exchange-traded funds. The proposed ADA ETF will trade on NYSE Arca under the ticker GADA, tracking CoinDesk’s Cardano Price Index (ADX).
Grayscale also submitted an S-1 for a Polkadot ETF, set to list on Nasdaq under ticker DOT, following the CoinDesk Polkadot CCIX Reference Rate. Both ETFs are designed as passive funds holding the underlying tokens in custody with Coinbase, without leverage or derivatives.
Despite the ETF headlines, ADA and DOT both saw muted price action as sentiment around top altcoins remained weak after Bitcoin fell to $107,000 on Friday, its lowest point since July 2.
Partly explaining the lack of a bullish market reaction to the news, Bloomberg ETF analyst James Seyffart emphasized that Grayscale’s latest filings are not fresh initiatives but continuations of earlier 19b-4 applications submitted in February 2025.
Technical indicators indicate that the Cardano price is holding support near $0.82 after a 10% loss, with Bollinger Bands narrowing around the current trading range. Such compression after major price declines often signals an incoming rebound phase.
The 20-day moving average is positioned near $0.87, aligning with the mid-Bollinger band and establishing the first resistance target. If bulls reclaim this level, ADA could climb toward $0.90 in the short term.
MACD indicators remain bearish, with the signal line at 0.0102 holding above the MACD line at 0.0130. However, fading bearish momentum suggests exhaustion may be setting in among sellers.
If Cardano slips below the $0.80 psychological mark, it risks testing the lower Bollinger band around $0.78, invalidating near-term ADA price rebound prospects. A sustained hold above $0.82 would confirm market stabilization and provide a base for recovery toward $0.90-$0.92.
Grayscale’s ETF push emphasizes growing institutional interest in altcoins like Cardano. This rising adoption trend is driving demand for secure multi-chain storage solutions, such as Best Wallet (BEST).
The project has already raised over $15 million in its presale, attracting participants with low transaction fees, attractive staking yields, and early dApp access. Its built-in multi-chain compatibility makes it a preferred solution for investors navigating across Cardano and other blockchain ecosystems.
