Grayscale Pushes ETF Odds to 87% — Can Cardano Price Soar 120%?

Cardano price remains in the spotlight as its chart structure shapes expectations for the next major move. ADA price has been hovering near key levels, with support zones playing a crucial role in guiding sentiment. In addition to the technical image, Grayscale filing of the new ETF also contributed to the optimism.

Cardano Price Action Points Toward A Potential Breakout

The current price has been retesting the upper boundary of its descending wedge channel, a structure that often precedes strong advances. Cardano price briefly touched $1.02 before pulling back, but the retracement held within the wedge and maintained the breakout structure. 

The retracement also aligns with Fibonacci levels, where the 0.5 zone near $0.85 provided notable defense. Holding above that level keeps the bullish setup intact, especially as the wedge has been broken and retested. 

Moreover, the Stoch RSI currently sits around 3.14, reflecting oversold conditions that often precede upward reactions. Therefore, the technical structure suggests a larger rally remains possible once buyers reclaim momentum, providing a foundation for further strength.

Meanwhile, ADA price sits around $0.81, retesting support zones near $0.79 and $0.75 while eyeing upside targets at $1.32 and $1.80. A clear push above $0.94 would confirm strength, completing the wedge breakout pattern and opening the path toward higher levels. 

The upside potential spans nearly 120%, as the measured move from the wedge points directly toward $1.80. Risk remains in the form of failed support, which could drag ADA lower toward $0.32, though probabilities lean bullish. 

Additionally, strong consolidation in this region suggests buyers continue absorbing dips. Therefore, the current setup maintains a constructive bias with higher price levels in sight, aligning with a broader Cardano price prediction 2025 scenario that highlights upside.

ETF Optimism Grows With Grayscale Filing

Grayscale’s amended S-1 filing with the SEC has added another bullish spark to ADA price sentiment. The new filing boosted the chance of a Cardano ETF being approved to almost 87%, a 11% improvement in a single week. 

The move has given the institutional players more confidence since the proposed ETF will have the ADA as direct hold with Coinbase Custody to provide extra security. Moreover, a listed fund would track the CoinDesk Cardano Price Index, reducing exposure to leverage or derivatives.

These characteristics offer a compelling alternative to institutions that want to gain direct exposure to ADA but without the risk of operational exposure. The filing is reminiscent of 

Grayscale and its wider approach to other crypto trusts but the inclusion of Cardano highlights the increasing popularity of diversified crypto assets. Therefore, optimism surrounding ETF approval has fueled expectations that broader inflows could support ADA price in the months ahead.

Conclusively, Cardano price remains locked in a technical structure that points to higher potential. ETF optimism continues to amplify sentiment, giving ADA price an institutional tailwind. The structure has been kept intact by consolidation and similar historical setups have been followed by strong breakouts. Therefore, the outlook for Cardano leans bullish, with technicals and external catalysts aligning for growth.