Cardano Price Could Jump 50% as SEC ETF Decision Nears

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• ADA trades at $0.85, testing resistance near $0.95.
  
• SEC ETF approval could spark institutional demand.
  
• Breakout above $0.95 may target $1.3 in near term.

Cardano (ADA) has captured renewed investor focus as the cryptocurrency consolidates within a tightening price range. Currently trading around $0.85, ADA is testing resistance near $0.95 after weeks of gradual upward pressure. Technical analysts suggest that this narrowing channel could precede a decisive breakout, with a successful move above resistance potentially triggering a 50% rally toward $1.3. Conversely, failure to break this level may see a short-term pullback to $0.75 before the next attempt.

SEC Ruling Could Define ADA’s Trajectory

Market attention is turning toward the U.S. Securities and Exchange Commission’s upcoming decision on Grayscale’s ADA ETF, expected on October 26. Approval would mark a major milestone for Cardano, potentially opening the door for substantial institutional participation. The prolonged anticipation has kept traders cautious yet optimistic, with the broader community watching closely for regulatory clarity.

The growing ETF landscape also reinforces Cardano’s position. Recently, REX Shares and Osprey Funds submitted filings for 21 single-asset crypto ETFs, including an ADA-focused product. This coordinated effort highlights increasing confidence in regulated crypto investment vehicles and underscores Cardano’s long-term utility and adoption potential.

Also Read: Cardano ADA Surges: Brave Wallet Integration Exposes ADA to 100M Users

Technical and Sentiment Setup Align for Potential Rally

Cardano’s technical setup and ETF-driven optimism are converging at a critical juncture. If buyers can push ADA past the $0.95 resistance, the cryptocurrency could swiftly target $1.3, completing a projected 50% upswing. On-chain data and price structure suggest that bulls are maintaining control, positioning ADA for strong near-term gains.

ADA at a Pivotal Moment

Cardano is entering a decisive phase where technical patterns and regulatory developments intersect. A confirmed breakout above resistance could accelerate adoption and unlock significant upside, while a rejection might trigger a temporary retracement. Traders and investors are closely monitoring the SEC ruling and price behavior, making the coming sessions pivotal for ADA’s next major move.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.