🔥 𝗖𝗮𝗿𝗱𝗮𝗻𝗼 𝗘𝗧𝗙 𝗛𝗢𝗣𝗘𝗦 𝗦𝗨𝗥𝗚𝗘: 𝗪𝗶𝗹𝗹 $𝗔𝗗𝗔 𝗙𝗶𝗻𝗮𝗹𝗹𝘆 𝗕𝗿𝗲𝗮𝗸 $𝟭?
Could ADA break $1 this week? All eyes are on May 29, the SEC decision day for Grayscale’s spot Cardano ETF — and traders are getting very bullish.
✅ ETF Approval Odds Now at 71%
On Polymarket, chances of ADA ETF approval jumped from 37% in April to 71% today
Bloomberg's Eric Balchunas sees a 75% chance it gets approved this year
🗓️ Why May 29 Matters
It’s the SEC’s first key deadline to approve, delay, or reject Grayscale’s Cardano ETF filing
Final decision deadline is October 22, but any movement now could spark a price rally
“A green light from the SEC could pull in institutional investors — and send $ADA flying,” say market analysts.
📈 ADA Technical Setup: Bullish
Current Price: $0.75
Strong support above 100-week moving average
If momentum builds, ADA could retest $1.20 and aim for $2 in the coming months
Indicators:
• RSI: Neutral at 51
• MACD: Slightly bearish short term
• Long-term EMAs (30, 50, 100, 200): Still bullish
⚠️ Ecosystem Weakness Still a Concern
Only 48 DeFi apps on Cardano
$443M TVL, $31M in stablecoins — far behind newer rivals like Unichain and Sonic
📊 Other Crypto ETFs in Focus:
XRP – 84% approval odds
SOL – 83%
DOGE – 67%
🎯 Bottom Line: If the SEC gives a thumbs up this week, ADA could quickly surge above $0.84 — and maybe even start its run toward $1 and beyond.
#Cardano #ADA #ETF