Exodus Movement's 15min chart shows Bollinger Bands expanding downward and Bearish Marubozu.

According to Exodus Movement's 15-minute chart, the Bollinger Bands are currently expanding downward, and a bearish Marubozu pattern has emerged at 09:00 on September 23, 2022. This suggests that the market trend is being driven by sellers, who are exerting control over the market, and that bearish momentum is likely to continue.

Cardano (ADA) has rebounded from a daily low of $0.80, testing the $0.90 resistance level as of September 22, 2025. The cryptocurrency has seen a significant surge in its ETF approval odds, now standing at 92%, which has bolstered investor confidence Reliance Global Buys ADA for Treasury as ETF Odds Surge to 92%, Cardano Eyes $1^[1]. Reliance Global Group, a publicly-listed insurance and financial services firm, has added ADA to its digital asset treasury, citing strong fundamentals such as Cardano’s peer-reviewed, scalable design, energy-efficient proof-of-stake system, and growing real-world adoption Reliance Global Buys ADA for Treasury as ETF Odds Surge to 92%, Cardano Eyes $1^[1].

The addition of ADA to Reliance's treasury underscores the company's long-term strategy, which is focused on value rather than opportunism. This move follows Reliance's previous acquisition of Ethereum and signals a strong vote of confidence in Cardano's project fundamentals Reliance Global Buys ADA for Treasury as ETF Odds Surge to 92%, Cardano Eyes $1^[1]. Meanwhile, on-chain growth indicators are positive, with Cardano’s 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].

Technical analysis of Cardano's price action shows that the asset is currently pressing against the upper boundary of a descending wedge that has defined its price action since 2021. A confirmed breakout above $0.85 with rising volume could open the door for a run toward $1.00, with $1.50 standing as the next significant target if bullish momentum sustains Reliance Global Buys ADA for Treasury as ETF Odds Surge to 92%, Cardano Eyes $1^[1]. Supporting indicators, such as narrowing Bollinger Bands and a weekly MACD close to a bullish crossover, suggest room for further upside before becoming overheated Reliance Global Buys ADA for Treasury as ETF Odds Surge to 92%, Cardano Eyes $1^[1].

However, the risk of a pullback remains if ADA is rejected at resistance levels again. 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].

In contrast, other cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin have faced a challenging September, experiencing a downturn amidst bearish trends News Explorer — Bitcoin, Ethereum and Dogecoin Face 'Red September' Amid Bearish Trends^[2]. Despite these challenges, the crypto market continues to see significant investments in Bitcoin and Ethereum ETFs, with $1.9 billion in inflows last week alone News Explorer — Bitcoin, Ethereum and Dogecoin Face 'Red September' Amid Bearish Trends^[2].

Overall, the resurgence of Cardano, bolstered by its ETF approval odds and strategic additions to corporate treasuries, signals a potential shift in investor sentiment. However, the market remains volatile, and investors should remain cautious and monitor technical indicators closely.