Cardano Price Rises 0.48% Amid ETF Approval Hopes

Buyers are returning to the market mid-week, indicating a potential shift in market dynamics. The price of Cardano (ADA) has seen a 0.48% increase over the past 24 hours, currently trading at $0.5622. On the hourly chart, ADA has broken through a local resistance level at $0.5605, suggesting that if buyers maintain their momentum, the price could rise to the $0.57 zone.

On a larger time frame, neither bulls nor bears are currently dominating the market, as ADA's price is far from key levels. For mid-term growth, buyers need to push the price above the resistance level of $0.5882. If this occurs, the price could potentially test the $0.62 mark. However, the current low volume indicates a lack of energy from both buyers and sellers, suggesting that sideways trading in the $0.55-$0.60 range is the most likely scenario until the end of the week.

As of July 2, 2025, Cardano is trading at $0.55949066 with a market cap of $21.21 billion. The broader sentiment remains cautious, with ADA hovering between key levels. The immediate support level is at $0.5235, while the resistance zones are between $0.5989 and $0.6533. Analysts have raised the odds of a Cardano ETF approval to 90% by 2025, which could potentially spark a new rally. Despite this optimism and institutional attention, ADA is currently trading within the range of $0.50 to $0.56.

Looking ahead, there is a 90% probability of a Cardano ETF approval, which could significantly impact the price of ADA. If buying pressure increases, ADA might rally to $0.77 in July. The forecasted price range for July is between $0.563284 and $0.724345, with an average monthly price of $0.62297. This suggests a potential gain of 28.52% for investors. However, it is important to note that these are forecasts and the actual price movements may vary.

According to the analyst's forecast, the estimated average ADA price will be around $4.22 by 2025, with a minimum of $4.08 and a maximum of $4.83. By the end of 2027, the value of Cardano is predicted to increase by 208.18%, reaching $2.03. These predictions are based on technical indicators and market analysis, but they should be taken with caution as they are subject to change.

In summary, while there is optimism surrounding the potential approval of a Cardano ETF and the possibility of a price rally, the current sentiment remains cautious. Investors should closely monitor the key support and resistance levels, as well as any developments regarding the ETF approval, to make informed decisions. The market's current dynamics suggest a potential for sideways trading in the near term, with the possibility of a breakout if buying pressure increases.