Cardano's price shoots 14% when BTC bull ico raises $ 536k in 1 day

The price of Cardano shot 14% in the last 24 hours to operate at $ 0.7985 at 02:24 am Est in a 55% pump in negotiation volume to $ 1.1 billion.

This occurs after the gray scale, through Nyse Arca, presented a presentation by virtue of the 1934 stock market and exchange law to launch the first ETF Cardano Spot (negotiated in stock exchange).

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NYSE ARCA FILES FOR THE FIRST CARDANO ETF on behalf of the Gray Scale

Nyse Arca has presented a 19B-4 form on behalf of the gray scale to create an ETF spot cardano (ADA), with Coinbase custody such as Custodio and Bny Mellon as administrator.

This marks ETF's first proposal based on … pic.twitter.com/ismupddrnq

– The wolf of all the streets (@Scottmelker) <a target="_blank" href="https://twitter.com/scottmelker/status/1889123276577816991?ref_src=twsrc%5Etfw”>February 11, 2025

The proposed ADA ETF aims to offer investors regulated exhibition to Cardano. If approved, the actions will be listed under the “Gada” Ticker symbol.

Cardano Price moving towards a bullish recovery

Despite such an increase in the last 24 hours, the Ada price The chart analysis reflects a significant price drop from its previous maximums of around $ 1.20, followed by a strong rebound after testing a key support zone.

A key support zone between $ 0.80 and $ 0.90 played a crucial role in the prevention of greater inconvenience.

The price fell below this region but was quickly recovered, indicating a strong purchase pressure at lower levels, according to Geckoterminal data.

However, Ada remains below his 200 -day simple mobile average (200 -day SMA) to $ 0.9173, which could act as a short -term resistance.

The price was also broken above the 50 -day SMA at $ 0.7263, an upward sign that suggests a possible continuation of the upward trend. If Ada can be kept above this level, a greater rising impulse could be developed.

An important resistance level is around $ 1.20 (orange line), which has previously acted as a strong barrier. Before arriving at this, Ada must first break the $ 0.92- $ 1.00 zone, where the resistance of the Ma200 structure and the previous structure converge.

The relative resistance index (RSI) is 72.90, indicating short -term overcompra conditions. This suggests that Ada could experience some consolidation or slight setback before continuing higher.

Meanwhile, the line of convergence divergence of the mobile average (MACD) is above the signal line, which is an upward signal. The positive histogram bars indicate a growing bullish impulse. If the MACD continues up, it could reinforce Ada's upward case.

ADA pricing prediction

If Ada maintains his impulse and breaks above $ 0.92 (200 -day SMA), the next objective would be $ 1.00, followed by a greater movement towards $ 1.20.

On the contrary, a rejection of $ 0.92 could lead to a setback at $ 0.75, where the 50 -day MA can act as support. If this level fails, Ada could test the $ 0.65 area.

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https://www.youtube.com/watch?v=_9wm9ucqlgs

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$ Btcbull is live in the next tokens! <a target="_blank" href="https://twitter.com/BTCBULL_TOKEN?ref_src=twsrc%5Etfw”>@Btcbull_token It is a meme token based on bitcoin Rewards that offers milestone -based airdrops, since bitcoin reaches new price levels.

With incorporated incentives to buy, retain and operate, $ BTCBull gives holders a new way of stacking btc. … pic.twitter.com/bmzbhcltu

– Better wallet (@bestwallethq) <a target="_blank" href="https://twitter.com/BestWalletHQ/status/1888934061848334357?ref_src=twsrc%5Etfw”>February 10, 2025

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