Over 161,000 addresses keep ADA at $0.385, which is an important support zone for a price reversal.
Rumors about the creation of #Cardano #ETF are encouraging and could push the price of #ADA to $3.10. A bullish scenario: if the price closes above $0.445 and reaches $0.564, ADA could rise 26%.
After the success of the #BTC and #BTC ETFs, attention has turned to Cardano (ADA), and rumors of a possible Cardano ETF are gaining momentum. Recently, Cardano founder Charles Hoskinson sparked optimism with a tweet suggesting that a Cardano ETF could be on the horizon.
Speculation began when Cardano and NFT-based token tracking platform Tap Tools tweeted about the possibility of an "ADA ETF on the horizon.
Charles Hoskinson's playful response to the tweet, a GIF with the caption "Great, I'll do it myself, fueled the ADA community's hopes. The response was mild, but was interpreted as a positive sign for the potential launch of the Cardano ETF.
the debut of the Ethereum ETF has had a notable impact on the cryptocurrency landscape and provided investors with a lucrative way to invest in the second largest cryptocurrency.
The emergence of the Cardano ETF could open up new investment opportunities for ADA and increase their visibility and influence in the market.
If approved, the Cardano ETF could have a significant impact on the price of ADA. This could cause ADA to return to its recent peak of $3.10 in the 2021 bull market.
nThe ADA is currently trading around $0.391, reflecting a recent drop of 5.41%. Analysts, on the other hand, believe that this drop could provide buying opportunities, especially in the key support zone between $0.385 and $BTC According to IntoTheBlock's In/Out of the Money Around Price (IOMAP), approximately 161,130 addresses own 1.91 billion ADA tokens at an average price of $0.385. This support zone coincides with the price range of USD 0.379 to USD 0.391 and is a key area for a possible price reversal.
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