- Cardano price could see major growth, with a target range of $3 to $6.
- Cardano ETF approval expected soon, raising optimism among investors.
- Market confidence in Cardano ETF has risen to an all-time high of 89%.
Cardano ($ADA) has recently displayed a price pattern that mirrors the movements from its previous market cycle. According to analysis from Ali Martinez, the token reached its peak at the 1.272 Fibonacci retracement level during the last bull run.
The current market setup suggests that ADA is following a similar trajectory, which could lead to a price range of $3 to $6.
Traders are monitoring the support and resistance levels highlighted in the charts closely, anticipating further price movements. If the historical trend holds, ADA may experience significant upward momentum in the coming months.
Cardano ETF Approval Could Fuel Price Surge
Analyst Sssebi has shared optimism regarding the potential approval of a Cardano-based Exchange-Traded Fund (ETF). Sssebi predicts that the approval process will conclude by October 26, with a 99% likelihood of success.
This approval would mark a major milestone for Cardano, as it could attract more institutional investors and drive demand for the cryptocurrency. As the approval date nears, many in the Cardano community are hoping this development will lead to a “spicy end of the year,” signaling significant market movements for ADA.
Cardano ETF Odds Reach New Highs
The chances of a Cardano ETF launching in 2025 have increased dramatically. According to Polymarket, the probability of a Cardano ETF is now at 89%, a record high. This surge in odds indicates growing confidence in the token’s future and the potential for institutional adoption.
The sentiment surrounding Cardano has shifted positively, with many analysts forecasting strong price movements. As the odds continue to rise, the Cardano community is filled with anticipation, as the approval of an ETF could be a key driver for ADA’s future success.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
