๐ฅ ๐๐ฎ๐ฟ๐ฑ๐ฎ๐ป๐ผ ๐๐ง๐ ๐๐ข๐ฃ๐๐ฆ ๐ฆ๐จ๐ฅ๐๐: ๐ช๐ถ๐น๐น $๐๐๐ ๐๐ถ๐ป๐ฎ๐น๐น๐ ๐๐ฟ๐ฒ๐ฎ๐ธ $๐ญ?
Could ADA break $1 this week? All eyes are on May 29, the SEC decision day for Grayscaleโs spot Cardano ETF โ and traders are getting very bullish.
โ ETF Approval Odds Now at 71%
On Polymarket, chances of ADA ETF approval jumped from 37% in April to 71% today
Bloomberg's Eric Balchunas sees a 75% chance it gets approved this year
๐๏ธ Why May 29 Matters
Itโs the SECโs first key deadline to approve, delay, or reject Grayscaleโs Cardano ETF filing
Final decision deadline is October 22, but any movement now could spark a price rally
โA green light from the SEC could pull in institutional investors โ and send $ADA flying,โ say market analysts.
๐ ADA Technical Setup: Bullish
Current Price: $0.75
Strong support above 100-week moving average
If momentum builds, ADA could retest $1.20 and aim for $2 in the coming months
Indicators:
โข RSI: Neutral at 51
โข MACD: Slightly bearish short term
โข Long-term EMAs (30, 50, 100, 200): Still bullish
โ ๏ธ Ecosystem Weakness Still a Concern
$443M TVL, $31M in stablecoins โ far behind newer rivals like Unichain and Sonic
๐ Other Crypto ETFs in Focus:
XRP โ 84% approval odds
SOL โ 83%
DOGE โ 67%
๐ฏ Bottom Line: If the SEC gives a thumbs up this week, ADA could quickly surge above $0.84 โ and maybe even start its run toward $1 and beyond.