- Cardano (ADA) shows bullish momentum, with analysts pointing to breakout patterns and potential short-term targets of $1.20 and long-term targets up to $4.
- Polymarket raises ADA ETF approval odds to 83%, echoing Bloomberg’s 90% estimate ahead of the SEC’s October 2025 decision.
- Whales are accumulating ADA, with on-chain data showing increased large wallet activity and a 46% surge in daily trading volume.
Cardano (ADA) is gaining renewed interest from analysts and investors alike, boosted by a powerful combination of technical breakouts, substantial whale accumulation, and rising speculation over a possible U.S. approval of an ETF.
Technical analysts became optimistic on ADA after important levels of resistance were broken. Trend Rider, a popularly followed chartist, pointed out that ADA crossed into bullish territory on the weekly chart, even with ongoing weakness in a few oscillators. He placed his short-term price levels around $1.20, provided Bitcoin maintains its upward momentum.
As further fuel for the bullish argument, the analyst revealed a quintessential “cup and handle” pattern building on ADA’s graph, a pattern most commonly linked to massive breakouts. In Smith’s eyes, ADA’s $0.92 resistance level is now well in sight, and, assuming the pattern fills out properly, prices should surge up to $4 over the next few months.
Also Read | Cardano (ADA) Eyes $1.20: Is a Breakout or Breakdown Coming Next?
Cardano Gains as ETF Odds Hit 83% and Whales Accumulate
The positivity isn’t just on technical charts. Betting site Polymarket just boosted the probability of Cardano ETF approval in 2025 to 83%, matching the Bloomberg analysts’ estimate of a 90% approval probability.
Those estimates come after the ongoing consideration of delayed spot ETF applications for ADA and Avalanche (AVAX) from the U.S. SEC, which will make the final rulings by October 2025.
At the time of writing, Cardano is trading at $0.7500 with a 24-hour trade volume of $1.84B and a market value of $27.21B. The price of ADA has gone down 1.90% over the last 24 hours. Despite this decline, ADA marks a 46% rise in daily trade volume, possibly indicating growing retail and institutional interest.
The accumulation trend is also being supported by large wallets, with several on-chain metrics showing that whales have been buying the dip.
Cardano founder Charles Hoskinson poured fuel on the rally by revealing long-term faith in ADA’s prospects. During a recent livestream, he predicted possible gains of 100x to 1,000x based on Cardano’s expanding ecosystem and upcoming developments such as Project Midnight, the privacy-oriented sidechain project.
As the market waits for the SEC’s verdict, Cardano looks set for a breakout. With the technical charts coming into alignment, whale support building up, and ETF acceleration on the rise, ADA might be entering its next level of long-term growth.
Also Read | Cardano Price Forecast: Will ADA Hit $3.10 Again or Drop Further?
