Cardano’s price jumped up 16.20% today as people talk more about a possible Cardano ETF. The amount being traded has picked up too, going up by 77%. Top analyst Crypto Rand shared his take on X – he thinks ETF rumors sparked the price bounce and could change the market’s direction.
ADA’s price has found stable ground between $0.60 and $0.65. After declining in early 2024, Cardano turned a corner and climbed to $1.40 before pulling back. We’ve seen sellers show up consistently around $1.00-$1.10 and again at $1.40-$1.50.
If ADA holds above $0.65, it might take another shot at reaching $1. However, failure to hold this level could result in a decline toward the next support at $0.40-$0.45.
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ETF Speculation Fuels Buying Momentum For ADA
Crypto Rand’s tweet suggests that anticipation around a potential Cardano ETF is contributing to the price surge. ETF approvals have historically driven market enthusiasm, as seen with Bitcoin. The possibility of an institutional investment vehicle for ADA is drawing attention, leading to increased buying pressure.
The market has reacted with heightened trading activity, as evidenced by the 77% jump in volume. A sustained rise in investor interest could further support Cardano’s price’s upward trajectory.
Read Also: Here’s Why 2025 Could Be the ‘Greatest’ Year for Algorand (ALGO)
What’s Next for Cardano Price?
Technical indicators suggest ADA’s price may be at a turning point. A breakout above $1.00 could confirm a trend reversal, with potential for a rally toward $1.40. However, if resistance holds, a pullback remains possible.
For now, the strong bounce and growing interest in a Cardano ETF continue to shape market sentiment. Traders will be watching for further developments to determine whether ADA’s price can sustain its recovery.
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