Cardano price prediction – Is Grayscale ETF hype the catalyst ADA needs to hit $1.50?
Main Idea
Cardano (ADA) is experiencing bullish momentum due to ETF speculation, positive sentiment, and technical indicators, with potential for further price growth towards $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.
Description
Cardano’s rally may be gaining traction as ETF buzz, bullish sentiment, and on-chain trends align.
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