Cardano Sets Eyes on $1 as Buyers Continue Defending the Neckline with an ETF Approval Gaining Steam
Cardano’s journey to the psychological price of $1 continues to gain steam, given that buyers have not yet thrown in the towel. According to market analyst Arab Crypta, “Cardano also remains positive as...
Cardano’s journey to the psychological price of $1 continues to gain steam, given that buyers have not yet thrown in the towel.
According to market analyst Arab Crypta, “Cardano also remains positive as buyers continue defending the neckline. A breakout above $0.86 could send ADA rallying toward the $1.01 target. But if it drops below the neckline, it may signal bearish control, with the next support near $0.68.”
Popular crypto analyst Ali Martinez shared similar sentiments that Cardano’s bon voyage to $1 would kick off if the ninth-largest cryptocurrency based on market capitalization breached major resistance at the $0.81 zone.
According to CoinGecko data, ADA was up by 24.7% in the past month to hit $0.74 at the time of writing.
As a top-ten cryptocurrency, Cardano is renowned as a proof-of-stake (PoS) blockchain network that emphasizes academic research, scalability, and sustainability.
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Therefore, it envisions an inclusive and transparent financial system where secure decentralized applications (dApps) and smart contracts take center stage.
What are the Stakes of a Cardano ETF Going Live?
Since exchange-traded funds (ETFs) have become the talk of the crypto town, the chances of Cardano jumping on this bandwagon are being highly scrutinized.
Per Polymarket data, the possiblity of a Cardano ETF seeing the light of day before the end of 2025 has jumped to 63%.
ETFs present institutions with a powerful mix of strategic flexibility, cost-efficiency, transparency, ease of trading, and liquidity. A Cardano ETF would be embraced because it would trigger heightened institutional interest.
Meanwhile, Cardano’s user base has been growing rapidly after a Brave browser partnership recently exposed it to 86 million users.
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