ADA Price Could Jump 40% After $0.88 Break, ETF Odds at 87%
Cardano’s ADA price has pulled back over 10% in two weeks but could surge 40% if it breaks resistance at $0.88. Analysts like Ali Martinez expect ADA price to hit $1.20 on a breakout, while LSTRADER sees a target above $1 if support holds at $0.82-$0.83. Criticism of the Cardano Foundation by Dan Gambardello did not dampen bullish sentiment. A key catalyst is Grayscale’s updated S-1 filing for a spot ADA ETF, boosting the odds of approval to 87% before year-end. Increased ETF approval probability and technical breakout potential suggest traders may position for a strong ADA price rally in the short term.
Bullish
Grayscale’s S-1 filing update and 87% odds for a spot ADA ETF approval provide a fundamental catalyst for Cardano, mirroring price surges seen in other tokens following ETF green lights. Coupled with technical indicators showing a potential breakout above $0.88, these factors support a bullish outlook. Traders often increase positions ahead of anticipated ETF approvals, driving buying pressure. Historically, similar ETF-related developments have led to significant rallies in crypto markets, suggesting both short-term gains as traders push ADA price upward and potential long-term strength if the ETF materializes.