Cardano (ADA) is drawing fresh attention this May as it trades just under the $0.70 mark. Currently priced at $0.6950, ADA has slipped 0.65% over the past day and 4.1% on the week. However, behind this short-term weakness, momentum is quietly building.
Price Squeeze Signals a Breakout Ahead
ADA is consolidating within a symmetrical triangle, with price action moving between $0.6704 support and $0.7268 resistance. The 50-day EMA is flat at $0.6962, suggesting a pause in trend direction. This tight trading range often leads to strong price movements once a breakout occurs. A move above $0.7268 could push ADA towards $0.7470 and potentially $0.7723. On the downside, a break below $0.6704 may see it drop to $0.6430 or $0.6109.
As the triangle tightens, many analysts are turning bullish, considering the potential upside and growing talk around Cardano price prediction 2025.
ETF Filing Boosts Market Sentiment
Grayscale has filed for a Cardano ETF with the New York Stock Exchange, a move that could unlock institutional interest in ADA. Bloomberg analysts estimate a 75% chance of approval, pointing to the SEC’s recent acceptance of Bitcoin and Ethereum ETFs.
Why this matters:
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Regulated investment products often attract institutional capital
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Grayscale's legal framework adds credibility to the ETF proposal
Also Read: Filecoin Price Prediction 2025, 2026 – 2030
Bigger Picture Looks Bullish
The upcoming Federal Reserve meeting on May 6–7 may not result in an immediate rate cut, but signs of slowing economic growth could shift policy later this year.
At the same time, Polymarket bettors show strong confidence in a Cardano ETF approval in 2025, with odds peaking at 71%.
With technical strength and rising institutional interest, Cardano could be poised for a strong breakout and a bullish path forward.
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