Cardano (ADA) Price Outlook – ETF Catalyst + Technical Bullish Setup
One of the strongest catalysts for Cardano is on the horizon: a potential SEC approval of the Grayscale ADA ETF. Odds of approval by October 22 are at 87% (Polymarket), following the SEC’s approval of generic standards for altcoin fund listings.
📌 Why this matters:
ETFs drive mainstream adoption + institutional inflows.
ADA is listed among Coinbase futures products, meeting the SEC’s new criteria.
With ETH spot ETFs already approved, ADA’s case looks stronger.
📈 Technical Outlook
Formed a double-bottom at $0.5025 → bullish reversal pattern.
Price has cleared neckline at $0.8650.
Golden Cross (July 22) + move above Ichimoku cloud → strong bullish signal.
Upside target: $1.3272 (Dec high, +45% from here).
Bullish scenario valid as long as support at $0.8300 holds.
👉 Between ETF speculation and technical strength, ADA looks positioned for further gains into late 2024 and beyond.
