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 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.