- Cardano (ADA) surged 4% in the past 24 hours, claiming the daily high of $0.728.
- Polymarket shows a 55% probability of spot ADA ETF approval in the US by 2025.
- ADA is facing support at the 20-day EMA, which needs to hold for further upside.
Cardano (ADA) has surged 4% over the past 24 hours, currently trading at $0.7276, with strong support found at its 20-day EMA of $0.6723. This upswing comes from growing optimism surrounding the potential approval of a spot ADA exchange-traded fund (ETF) in the United States.
According to Polymarket data, there’s a 55% chance of ADA ETF approval by the end of 2025, providing fresh momentum for investors and traders alike.
ADA ETF Filing Timeline and Potential Impact
Grayscale filed the first application for a spot ADA ETF with the U.S. Securities and Exchange Commission (SEC) on February 10, 2025. The filing was published for public comment by February 24, 2025, with the initial decision deadline set for April 10. A maximum extension pushes the review window to October 22, 2025.
A listed ADA ETF would allow institutional investors to gain exposure to Cardano without directly holding crypto assets, a development that could drive significant capital inflows. Similar moves in Bitcoin and Ethereum markets have historically triggered sharp price rallies following ETF-related news.
Related: ADA Founder Predicts The Close of ETH. Is This the Fall of a Crypto Giant?
Cardano Community Sentiment Strengthens
Backing this bullish case is a renewed sense of conviction within the Cardano community. Prominent Cardano supporter “Whale” emphasized on X that Cardano remains a unique large-cap crypto, setting higher lows against Bitcoin across multiple market cycles.
“Few realize how special that makes it. A must-have allocation,” Whale asserted.
Technical Analysis: Bullish and Bearish Targets
ADA’s technical structure leans bullish with the RSI (Relative Strength Index) currently standing at 60.66, signaling positive momentum but staying just below overbought territory (above 70).
Further, the price is now pressing against the upper Bollinger Band at $0.7356, indicating strong upward pressure. Sustained closes above this upper band could trigger a bullish continuation.
In a bullish case, if buying pressure persists, ADA could break through the $0.7356 resistance and target the psychological $0.80 level next, with an extended move toward $0.90 if ETF approval sentiment strengthens further.
Related: Cardano’s Pivotal Moment: Can ADA Break $1.25 and Ignite a Bull Market?
On the flip side, failure to hold above the 20-day EMA ($0.6723) would expose ADA to a retracement toward the mid-Bollinger band around $0.6540. A deeper correction could drag prices to the lower band near $0.5723.
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