Cardano price prediction – Is Grayscale ETF hype the catalyst ADA needs to hit $1.50?

Key Points

1. Cardano's price surged 13.4% to $0.8787, driven by ETF buzz and bullish sentiment, with analysts projecting a potential rise to $1.50 if it breaches $0.88–$0.90.

2. Grayscale's establishment of a Delaware trust for ADA has fueled speculation about a possible Spot ETF, which could attract institutional investment.

3. Technical indicators, such as the MVRV Z-score (0.445) and Stock-to-Flow ratio, suggest tightening supply and growing bullish confidence, supporting further price growth.

4. Short liquidations have increased, with $1.2 million in shorts liquidated in a single day compared to $439k for longs, potentially fueling a short squeeze and accelerating ADA's price hike.

5. The article highlights Cardano's alignment with an upper trendline since mid-July, indicating a build-up of momentum towards the $1 mark.