Crypto analyst Trend Rider has identified strong bullish signals for the Cardano price, with technical indicators aligning in its favor. This comes as Cardano ETF approval odds surge to 83%, igniting investor optimism.
Analyst Projects Cardano Price Rally Amid Positive Market Signals
In a recent X post, crypto analyst Trent Rider noted that the ADA price has re-entered bullish territory on the weekly band. He highlighted that the daily resistance levels are now broken, with the price trading above them.
The analyst recommended that holders be patient, even though the oscillator line is slightly negative. This is especially important as Bitcoin is still trending upward. If momentum continues, investors seeking short-term gains are advised to take some profits close to $1.20.
This outlook aligns with the growing speculation about the approval of the Cardano ETF, as positive news around the token continues to increase.
Furthermore, top analyst Crypto Smith pointed to an even more ambitious scenario for the Cardano price. Using a TradingView chart, Smith highlights a classic “cup and handle” formation. He underscored that the Cardano whales had finished their accumulation phase, with the token now testing the breakout point around $0.92. If this breakout holds, Smith’s analysis predicts the ADA price could eventually surge beyond $4.
As of press time, the altcoin is trading between $0.75 and $0.78, and its 24-hour trading volume has increased by 46%, indicating increased market activity.
Cardano ETF Approval Odds Boosts Analyst’s Bullish Outlook
Adding to its positive momentum, the prediction platform Polymarket recently raised the odds of a Cardano ETF approval in 2025 to 83%. Earlier in the month, Bloomberg analysts estimated a 90% chance of approval. They point to the SEC’s new updates with crypto-related products as a sign that regulations may be becoming more lenient.
The bullish narrative surrounding the Cardano price could be strengthened if a potential Cardano ETF opens up new institutional money flows into the market. The jump in approval odds follows months of speculation and earlier delays from the SEC. They had postponed decisions on Grayscale’s proposed spot Cardano and Avalanche ETFs from May to mid-July, while keeping the final ruling deadline in October 2025.
In other news, Cardano’s founder Charles Hoskinson recently argued that ADA has growth potential far beyond Bitcoin. Hoskinson suggested Bitcoin might still climb 10x to reach $1 million per coin. He also believes the ADA price could see gains of 100x or even 1,000x. According to Hoskinson, Cardano’s projects, such as Midnight, and their potential to serve as a functional layer for Bitcoin could help realize this vision.
The rising Cardano ETF approval odds have created an increasingly bullish backdrop for the Cardano price. As October’s final SEC decision deadline approaches, the crypto community will be watching closely to see whether the token can enter a sustained rally.
Michael Adeleke
Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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