Cardano ADA Gains Bullish Momentum Ahead of SEC ETF Decision in October

Cardano (ADA) has gained renewed attention in recent analysis as the market speculates on its potential price movement ahead of a key SEC decision on spot ETF approvals in October. Technical indicators and strategic market patterns are being cited as strong signals for a bullish trend. Analyst Trend Rider noted that ADA has moved into bullish territory on the weekly chart, with key resistance levels already breached [1]. Although the oscillator remains slightly negative, he advised investors to remain patient, suggesting short-term price targets of around $1.20 if Bitcoin’s uptrend continues [1].

Crypto Smith added further optimism by identifying a classic “cup and handle” formation on ADA’s chart, signaling a potential breakout from the $0.92 resistance level [1]. The analyst argued that with the accumulation phase likely complete, ADA could climb as high as $4 if momentum is sustained [1]. These observations come amid rising market sentiment, with Polymarket increasing the odds of a Cardano ETF approval in 2025 to 83%, aligning with Bloomberg analysts who now estimate a 90% chance [1]. The SEC is currently reviewing delayed proposals for spot ADA and AVAX ETFs, with final decisions expected this October [1].

ADA is currently trading between $0.75 and $0.78, with a 46% increase in daily trading volume [1]. Founder Charles Hoskinson has also expressed confidence in ADA’s long-term potential, suggesting it could outperform Bitcoin with returns ranging from 100x to 1,000x, driven by new initiatives like Midnight [1]. While the regulatory outcome remains a critical factor, ADA’s technical setup and growing institutional interest are contributing to a compelling case for a prolonged price rally [1].

[1] Source: Cardano Price Prediction: Can ADA Hit $4 Before ETF Decision in October? https://coinmarketcap.com/community/articles/688bb01f01327b00e9056ae4/