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$ADA

Cardano price is aiming for a breakout of $ 1.32, as the odds of ETF approval are estimated at 63

- Whales have purchased over 80M ADA in the last 48 hours, when the probability of ETF approval rose to 63%.

ADA is testing resistance near $ 0.91; a breakout could trigger a 75% rise to $ 1.32.

Grayscale's #Cardano #ETF application raises chances of approval, spurring interest from institutional investors.

The price of Cardano (ADA) is showing signs of a possible breakout, as the odds of the Cardano exchange-traded fund (ETF) receiving approval from the U. S. Securities and Exchange Commission (SEC) have reached 63%.

This increase in approval probability comes amid significant whale buying and a technical picture that could lead to a 75% rally in the #ADA price. The combination of growing institutional interest and favorable chart patterns signals a return of attention to Cardano's market performance.

The likelihood of SEC approval for the Cardano spot ETF rose from 56% to 63% in 24 hours, according to Polymarket data. The increase reflects growing investor confidence that regulatory approval will happen within a year.

Now #Grayscale is the only company to have filed a formal application for a Cardano spot ETF with the SEC. The Commission recognized the product earlier this year. Grayscale was previously instrumental in securing the approval of the first bitcoin spot ETF in the United States.

In addition, Swiss management company 21Shares offers an ADA exchange-traded product (ETP) with more than $ 72 million in assets. This indicates a lot of institutional interest in Cardano.

In recent weeks, Cardano's price has been trading within a descending triangle pattern. It recently tested resistance near the $ 0.

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