Cardano (ADA) has shown significant growth over the past week, reaching $0.8814 and increasing its market capitalization to $31.38 billion. The key factor contributing to this growth is the recent announcements regarding ETF applications.
Cardano's Growth and ETF Applications
In the past week, Cardano posted an impressive 21.6% gain, linked to Grayscale's filing for ETFs tracking both Cardano and Hedera. The filing was made on August 12, 2025, mirroring the company's prior strategy with Bitcoin. ETF approval odds have surged, with Polymarket indicating an increase from 69% to 85% since August 8.
Technical Analysis and Positive Signals
From a technical perspective, ADA has broken above its July high of $0.87, triggering bullish momentum. Key metrics confirm the positive setup. The RSI (14) is at 61.77, indicating upward momentum without overbought conditions. The MACD shows a bullish crossover, and Fibonacci levels confirm a breakout at the 23.6% retracement of $0.872.
Price Targets for Cardano
Sustained closes above $0.88 are seen as critical for Cardano’s short-term trajectory. Analysts suggest that maintaining this level could propel ADA toward $1.08, the 161.8% Fibonacci extension level. More bullish projections indicate potential movement towards $1.50 if momentum continues.
With ETF optimism rising, whale accumulation increasing, and technical indicators trending positively, Cardano may be entering one of its most promising phases in 2025. Traders will closely monitor updates from the SEC regarding altcoin ETFs and Grayscale’s regulatory steps.
