Cardano ($ADA) is showing significant market growth after breaking above a long-term trendline, which correlates with rising investor interest and impending ETF approvals.
Cardano's Surge After Consolidation
Cardano ($ADA) surged 22% this week to $0.98049 after breaking its long-standing trendline. This move followed months of consolidation above the $0.55–$0.60 support zone. Technical analysts set upside targets at $1.13 (TP1), $1.31 (TP2), and $1.54 (TP3) if the breakout holds. They stressed that maintaining a price above $0.80 is crucial to sustain the bullish outlook.
ETF Developments and Regulatory Outlook
NovaDius Wealth Management President Nate Geraci told CNBC that several ETF filings for Cardano ($ADA), Hedera ($HBAR), Solana ($SOL), and Ripple ($XRP) are in progress. Geraci stated that approval for an ADA ETF is expected in the fourth quarter of this year. He also mentioned that a standardized U.S. crypto regulatory framework could be in place within two months, paving the way for these ETFs and expanding institutional access beyond Bitcoin and Ethereum.
Market Performance and Investor Sentiment
Cardano has become the largest daily gainer among the top 100 cryptocurrencies, rising 18.30% in 24 hours to $1.01. The asset’s market capitalization now stands at $35.98 billion. Over the past week, ADA has climbed 36.00%, and in the last 30 days, it has gained 39.86%. Analysts noted that the recent performance reflects renewed investor confidence despite persistent market skepticism about Cardano’s long-term competitiveness.
The breakout above the trendline and the price surge of Cardano ($ADA) may signal a recovery in investor interest. The focus on future ETFs and expectations for regulatory normalization suggests that Cardano and other altcoins may continue to attract attention in the event of an extended bullish trend in the cryptocurrency market.
