
ETF filings by Rex Shares and Osprey boost ADA sentiment.
The daily Cardano price chart shows accumulation and a tightening structure.
Long-term setup hints at potential upside targets of 200% or more.
The Cardano price is showing strong signs of accumulation as October unfolds, with both technical and fundamental factors pointing to a potential rally toward the $1.10 region. As institutional attention grows and new ETF filings surface, momentum around ADA crypto continues to build, setting the stage for a decisive breakout.
ADA Price Approaches Critical Resistance on 4-Hour Chart
On the 4-hour Cardano price chart, ADA has been forming a narrowing structure within a falling wedge pattern. Recently, the price has held firm around the $0.80–$0.85 support zone, while momentum indicators hint at an upcoming push higher.
Market observers like Ali Martinez notes that a break above the $0.90 level could act as a trigger, paving the way toward the next major resistance at $1.10.
This level, according to many traders, represents the upper border of the wedge pattern that has confined ADA for weeks. With price tightening and volatility contracting, conditions are aligning for a potential mid-October breakout.
Institutional Interest and ETF Developments Boost Optimism
Beyond chart dynamics, fundamentals are turning increasingly favorable. One of the strongest bullish catalysts is the growing institutional interest in ADA crypto, especially as ETF-related news gains traction.
This week, new filings revealed that Rex Shares and Osprey Funds have jointly submitted an application for a staking-backed Cardano ETF to the U.S. SEC. In total, 21 ETF products are reportedly filed for other assets also.
If approved, these funds would allow investors to gain exposure to ADA price USD while earning staking rewards. Such products could bring significant liquidity inflows to Cardano, amplifying its market appeal among both retail and institutional participants.
Also, the other AUMs filing with the SEC are pending. An ETF decision could come positively this month; odds suggest many new ETF products would be approved, which will pump liquidity into Cardano-related products and other altcoin-related products also.
This adds an important narrative to the Cardano price forecast, as it may determine whether ADA transitions from accumulation to acceleration.
Long-Term Structure Mirrors Past Bull Cycle
On higher timeframes, the Cardano price chart paints an equally promising picture. Analysts note that ADA’s current setup closely resembles the early stages of its previous bull cycle, during which the asset surged from modest levels to all-time highs.
In particular, the current curved breakout formation on ADA’s chart resembles the one that triggered explosive gains in the past. If history repeats, the first major target stands near $2.77, implying a 220% gain from current prices. A more extended rally, should momentum persist, could drive ADA price toward $7.82, marking an 800% surge.
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.