FinWise 15min chart shows Bollinger Bands expanding downward, bearish marubozu formation.

In accordance with FinWise's 15-minute chart, Bollinger Bands are expanding downward, indicating a bearish Marubozu at 14:00 on September 23, 2025. This suggests that the market trend is being driven by sellers, who currently dominate the market, and that bearish momentum is likely to persist.

Cardano (ADA) has shown signs of recovery, rebounding from a daily low of $0.80 and testing the $0.90 resistance level. This upward momentum is being driven by a surge in ETF approval odds, which have climbed to an impressive 92%, and a strategic investment by Reliance Global Group, which has added ADA to its digital asset treasury Reliance Global Buys ADA for Treasury as ETF Odds Surge to 92%, Cardano Eyes $1^[1].

The approval of an ADA ETF would open the floodgates for significant capital inflows, boosting investor confidence and potentially driving the price higher. Reliance Global Group, a publicly-listed insurance and financial services firm, cited Cardano’s peer-reviewed, scalable design, energy-efficient proof-of-stake system, and growing real-world adoption as key reasons for adding ADA to its treasury. This move signifies a vote of confidence in Cardano’s fundamentals, further fueling optimism Reliance Global Buys ADA for Treasury as ETF Odds Surge to 92%, Cardano Eyes $1^[1].

On-chain growth indicators are also positive, with the Cardano mainnet surpassing 114 million transactions, highlighting steady adoption even during uncertain market conditions Reliance Global Buys ADA for Treasury as ETF Odds Surge to 92%, Cardano Eyes $1^[1]. The weekly chart shows ADA pressing against the upper boundary of a descending wedge, with a confirmed breakout above $0.85 potentially opening the door for a run toward $1.00 Reliance Global Buys ADA for Treasury as ETF Odds Surge to 92%, Cardano Eyes $1^[1].

However, there are risks to consider. If ADA is rejected at resistance again, the risk of a pullback remains. A return to the $0.35–$0.45 accumulation zone would test long-term support, while a failure there could prolong the multi-year downtrend Reliance Global Buys ADA for Treasury as ETF Odds Surge to 92%, Cardano Eyes $1^[1].