Analyst predicts Cardano price to rally to $1.50 riding a wave of ETF hype
Cardano price has broken out of a months-long bullish pattern, and with Grayscale ETF hype gaining steam, one analyst is forecasting a rally to $1.50.
- Cardano price targets $1.21 if $0.86 holds as support.
- Crypto analyst Ali Martinez sees potential for an even larger rally to $1.50, citing the 12-hour perps chart.
- Rally fueled by Grayscale’s Cardano Trust filing alongside one for Hedera.
Cardano ( ADA ) price has just staged a powerful breakout from a months-long double bottom formation with equal lows near the $0.51 level and a neckline at $0.86. A first breakout attempt in late July pushed Cardano price to $0.94 but quickly failed, with price dipping to $0.68 — a move that now appears to have been a fakeout rather than a full pattern invalidation.

The current breakout above $0.86 is far more convincing, backed by a large daily candle and the strongest volume in weeks. Cardano price price is now holding above both the 20-day EMA and 50-day SMA , with the short-term EMA trending above the longer-term SMA, reinforcing bullish momentum.
Cardano price prediction
If buyers can sustain this move and turn the $0.86 level into support, the double bottom pattern projects a measured target around $1.21, representing a potential gain of roughly 22% from the current price of $0.99. Clearing the $1.00 psychological barrier on a daily close would further strengthen the bullish outlook. A drop back below $0.86 would be the first sign that the breakout’s momentum is faltering.
Crypto analyst Ali Martinez has set an even higher target of $1.50 for ADA, based on the 12-hour perpetual contract Cardano price chart.
Why is Cardano price surging?
Apart from the technical breakout, Cardano price’s bullish momentum is being reinforced by a major fundamental catalyst. On August 12, Grayscale registered the Grayscale Cardano Trust ETF in Delaware alongside the Grayscale Hedera Trust ETF, signaling potential future ETF exposure for both ADA and HBAR. These filings often precede official SEC S-1 applications, suggesting that regulated investment vehicles for these assets could be launched in the near term.
Buoyed by the filing, HBAR is also showing strong bullish momentum and is on the verge of breaking out from its own bullish pattern, as detailed here .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Starlink hit by yet another outage as SpaceX adds more satellites to orbit
Share link:In this post: Starlink went down Monday, marking its second outage in two weeks. Thousands of users reported the issue on Downdetector, but SpaceX gave no statement. SpaceX launched more satellites that same day from Vandenberg despite the outage.
Meta and Character.ai face investigation over chatbots posing as therapists
Share link:In this post: Texas attorney-general Ken Paxton is investigating Meta and Character.ai for allegedly marketing chatbots as therapists without medical credentials. The probe follows a Senate inquiry into Meta after leaked documents suggested its AI could engage in romantic chats with minors. Both companies deny wrongdoing, saying their chatbots carry disclaimers that they are not licensed professionals and are intended for entertainment.
Sam Altman says Trump is underestimating China’s AI threat
Share link:In this post: Sam Altman warned that Trump’s chip bans won’t stop China’s AI progress. He said China is advancing across multiple layers, not just hardware. OpenAI released two open-weight models to counter China’s open-source tools.

Trending news
MoreCrypto prices
More








