Traders are watching Cardano as confidence grows regarding its potential approval by the SEC for an exchange-traded fund in 2025. According to the blockchain-based prediction platform, PolyMarket, traders currently expect a 76% chance of SEC approval for an exchange-traded fund in 2025.
The odds of approval have increased in recent weeks, with over $374,000 wagered on the outcome, reflecting new optimism. On the platform, users can buy "yes" shares at $0.76 and "no" shares at $0.25, accurately reflecting market expectations regarding regulatory progress.
Bloomberg analysts are optimistic about the SEC's approval of an exchange-traded fund.
A large part of this momentum stems from improved communication between the cryptocurrency sector and the U.S. Securities and Exchange Commission. Bloomberg analysts, Eric Balchunas and James Seyfert, added to the positive outlook, predicting that Cardano, among other altcoins, has a 90% chance or greater for approval.
Tweet⬇️
New: Eric and I raise our odds for the vast majority of spot cryptocurrency ETF applications to 90% or higher. The SEC's engagement is a very positive sign in our view.
Despite the positive outlook, the price.
Notable volatility in recent weeks. Cardano is currently trading at $0.5603, up 0.7% from the previous day, reducing its monthly loss to 25.4%.
However, a Cardano exchange-traded fund could lead to a rise in the token's price. As with Bitcoin, approval for an exchange-traded fund could attract billions of dollars in new capital, supporting its liquidity and institutional clarity and utility, resulting in a price increase.
It is worth noting that the U.S. Securities and Exchange Commission (SEC) is expected to make a decision regarding exchange-traded funds by the end of the fourth quarter of 2025.
Is prepared for a bullish breakout in 2025?
is undergoing a critical technical phase, with market analysts providing mixed forecasts about its next step. According to analyst Smith, ADA is rapidly approaching a key resistance level of a trendline, reflecting a previous chart structure that led to a 240% breakout.
If history repeats itself, ADA could rise towards the $2.60 level again. The analyst suggests to investors to "stack accordingly," indicating a potential bullish breakout on the horizon.
On the other hand, another analyst, Ma,nofb,itcoin, offers a more cautious perspective, indicating that ADA has broken through partial support levels, which could pave the way for another downward movement in what is termed the fourth wave.
However, it also indicates that an upward recovery is still possible if ADA can hold above the critical support level at $0.512. This level may determine whether the currency will rise or retreat further.