Following the recent crypto market crash, the industry is showing signs of recovery, with the global market cap climbing to $3.2 trillion, marking a 1.21% increase. In line with the market rebound, Cardano (ADA) is also exhibiting signs of recovery, leading many to believe a rally towards a new all-time high is imminent.
One of the main catalysts behind Cardano’s price surge is speculation surrounding an ADA ETF launch. Analysts are closely watching these developments, as Grayscale’s filing for an ADA ETF has fueled bullish expectations. However, the market remains cautious, with some investors bracing for potential price declines in the short term.
Currently trading below the $1 mark, Cardano has struggled to surpass the $2 threshold for more than three years. Despite these challenges, ADA’s potential for a significant rebound is attracting attention. Notably, crypto influencer Nala recently shared on X (formerly Twitter) that Cardano might be poised to make a history-making return to $3, a level the coin nearly touched in 2021. This view was echoed by analyst Max Brown, who also predicts that ADA could break past its previous all-time high in the near future.
Cardano is about to make history again$ADA spot ETF is coming soon and it could totally send the price to $3 and higher pic.twitter.com/O3KbH7vfkQ
— Nala (@NALAp20) February 12, 2025
A key factor behind Cardano’s potential rally is Grayscale’s ADA ETF initiative. Grayscale Investments has filed a registration statement with the NYSE, signaling a major step toward ADA’s institutional acceptance. This, combined with speculation about a possible partnership with Microsoft, has further ignited investor optimism.
From a technical standpoint, ADA has recently surpassed significant resistance zones, with analysts pinpointing $0.8082 and $0.8715 as the next crucial targets. The token is currently priced at $0.7845, marking a daily gain of 3.5%, with a 7.5% increase over the past week. While Cardano’s growth trajectory looks promising, traders should remain cautious, as market conditions remain volatile.
Also Read: Cardano (ADA) Defies Bearish Market Trend with 11% Surge, Whale Accumulation Fuels Bullish Momentum
In conclusion, Cardano’s potential bull run could bring ADA to new heights, with $3 potentially within reach. However, careful research and risk management remain essential for investors navigating these uncertain waters.
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.
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