Cardano (ADA) is catching fresh bullish momentum, driven by a mix of technical breakouts, whale accumulation, and rising optimism over a potential U.S. ETF approval.
Analyst Trend Rider recently highlighted ADA’s shift into bullish territory on the weekly chart, noting that key resistance levels have been breached. Despite a slightly negative oscillator reading, he advised holders to stay patient, with short-term targets around $1.20 if Bitcoin’s uptrend continues.
Meanwhile, analyst Crypto Smith pointed to a textbook “cup and handle” formation on ADA’s chart, suggesting the token is ready to break out from its $0.92 resistance. With the accumulation phase likely behind, Smith believes ADA could aim as high as $4 if momentum holds.
Fueling the excitement, Polymarket raised the odds of a Cardano ETF approval in 2025 to 83%, echoing Bloomberg analysts who now estimate a 90% chance. This comes as the SEC reviews delayed proposals for spot ADA and AVAX ETFs, with final decisions due in October.
At the time of writing, ADA trades between $0.75 and $0.78, with a 46% uptick in daily trading volume. Founder Charles Hoskinson also chimed in recently, suggesting ADA could outperform Bitcoin in the long run, forecasting 100x to 1,000x returns driven by new projects like Midnight.
While the market awaits the SEC’s ruling, ADA’s technical setup and renewed institutional interest are building a compelling case for a sustained rally.
