"Cardano Price Surge Imminent: ADA Bulls Eye $3 as Grayscale ETF Looms"

The crypto market has shown signs of recovery, with the global market cap reaching $3.2 trillion, marking a 1.21% increase. In line with the overall crypto market, the Cardano price is exhibiting a rebound, signaling a potential rally to a new all-time high.

Analysts predict Cardano price to hit new all-time highs, with some expecting it to reach the $3 mark. However, they also remain cautious about Cardano’s further declines, as market participants brace for possible fluctuations in ADA’s value.

Notably, the Cardano price has been hovering below the $2 level for more than three years. Currently, the altcoin is trading below the significant range of $1. However, analysts remain bullish about ADA’s potential rebound, especially driven by Grayscale’s ADA ETF filing.

Nala, a prominent crypto voice on X, shared an X post today, drawing the community’s attention to the Cardano price’s possible uptrend. According to Nala, Cardano is about to make history. After nearly touching $3 in 2021, the analyst expects Cardano’s ADA to make a comeback to this price point and potentially break through it soon.

Echoing Nala’s view, Max Brown also predicted Cardano’s possible bull run, potentially reaching a new all-time high of around $3.

Significantly, the recent recovery and potential rally in Cardano’s price are triggered by Grayscale’s ADA ETF initiative. In a recent development, Grayscale Investments filed a registration statement with the NYSE to launch its Cardano ETF.

Reflecting on Cardano’s recent trends, trader Niels posited that the Cardano price has already experienced a notable dip, marking a bottom. While ADA’s capitulation candle has already occurred, similar to 90% of other utility altcoins, the worst might be over for Cardano. Reiterating the bullish outlook, the trader suggested that ADA will reach $1.5 by April 2025.

Interestingly, Cardano’s ADA price is driven in part by founder Charles Hoskinson’s hint at a potential partnership with Microsoft. Triggered by Hoskinson’s announcement and Grayscale’s ETF filing, ADA is set for an upward momentum.

As highlighted by analyst Tr