Cardano Price Analysis: Will Grayscale’s Latest ETF Filing Drive ADA to $1? - Coinspeaker

Key Notes

• Cardano price declined 10% this week, stabilizing near $0.82 on Saturday, August 30.
• Grayscale filed S-1 ETF applications for Cardano and Polkadot, expanding its single-asset crypto product lineup.
• ADA trades under pressure near support despite ETF headlines, with technicals suggesting a possible recovery toward $0.90.

Cardano’s 10% weekly timeframe price decline stabilized near $0.82 on Saturday after Grayscale filed registration statements with the SEC for new ADA and Polkado (DOT) exchange-traded funds. The proposed ADA ETF will trade on NYSE Arca under the ticker GADA, tracking  CoinDesk’s Cardano Price Index (ADX).

Grayscale also submitted an S-1 for a Polkadot ETF, set to list on Nasdaq under ticker DOT, following the CoinDesk Polkadot CCIX Reference Rate. Both ETFs are designed as passive funds holding the underlying tokens in custody with Coinbase, without leverage or derivatives.

New: @Grayscale submits S-1s for both their Cardano and Polkadot ETFs. They had already submitted 19b-4s for each of these — so these aren't brand new filings pic.twitter.com/JtcVBiKU2T

— James Seyffart (@JSeyff) August 29, 2025

Despite the ETF headlines, ADA and DOT both saw muted price action as sentiment around top altcoins remained weak after Bitcoin fell to $107,000 on Friday, its lowest point since July 2.

Partly explaining the lack of a bullish market reaction to the news, Bloomberg ETF analyst James Seyffart emphasized that Grayscale’s latest filings are not fresh initiatives but continuations of earlier 19b-4 applications submitted in February 2025.

ADA Price Forecast: Can $0.82 Hold Before a Push Toward $0.90?

Technical indicators indicate that the Cardano price is holding support near $0.82 after a 10% loss, with Bollinger Bands narrowing around the current trading range. Such compression after major price declines often signals an incoming rebound phase.

The 20-day moving average is positioned near $0.87, aligning with the mid-Bollinger band and establishing the first resistance target. If bulls reclaim this level, ADA could climb toward $0.90 in the short term.

MACD indicators remain bearish, with the signal line at 0.0102 holding above the MACD line at 0.0130. However, fading bearish momentum suggests exhaustion may be setting in among sellers.

If Cardano slips below the $0.80 psychological mark, it risks testing the lower Bollinger band around $0.78, invalidating near-term ADA price rebound prospects. A sustained hold above $0.82 would confirm market stabilization and provide a base for recovery toward $0.90–$0.92.

Best Wallet Presale in Demand as Cardano ETF Momentum Builds

Grayscale’s ETF push emphasizes growing institutional interest in altcoins like Cardano. This rising adoption trend is driving demand for secure multi-chain storage solutions, such as Best Wallet (BEST).

The project has already raised over $15 million in its presale, attracting participants with low transaction fees, attractive staking yields, and early dApp access. Its built-in multi-chain compatibility makes it a preferred solution for investors navigating across Cardano and other blockchain ecosystems.

With discounted entry tiers still available before the next presale price increase, early participants can secure BEST tokens directly via the official Best Wallet platform.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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