Cardano’s $0.60 Support Faces Test — Will Cardano’s ETF Push Trigger the Next Big Move?

Cardano’s price compression forms a symmetrical triangle, with analysts projecting a potential breakout target near $1.86 in the coming months.

Anticipation for a Cardano ETF fuels institutional interest, offering traditional investors regulated exposure to ADA and increased market participation.

The Phalanx upgrade is enhancing Cardano’s Proof-of-Stake security and protecting against grinding attacks.

Cardano ($ADA) price is approaching a critical phase and technical data indicates growing pressure following a $2.3 billion liquidity drain in recent days, while upcoming updates and ETF speculation fuel mixed market sentiment.

Cardano’s Price Compression and Technical Structure

Cardano’s current market structure shows compression within a symmetrical triangle pattern on the weekly chart. The price has been oscillating between converging support and resistance trendlines, signaling a potential breakout within 150 days

Market analysts BFB observed that such formations often precede a decisive move .The target for a potential upward breakout stands near $1.86, a 200% upside from current level

The Relative Strength Index (RSI) is at 53.6,a sign of steady short-term strength. The Moving Average Convergence Divergence (MACD) has also turned positive and the price is above the 20-day simple moving average.

However, a decisive move below $0.60 might weaken the ongoing rebound and open the door to renewed selling pressure.But if ADA manages to break above the $0.65 resistance, the next hurdle is at $0.70

Cardano ETF and Institutional Access

Market observers believe the most critical catalyst for Cardano could be the approval of a potential Cardano ETF. Such an event would offer institutional investors exposure to ADA without holding the asset directly, increasing liquidity and market accessibility.

Regulatory approval from the U.S. Securities and Exchange Commission (SEC) would signal growing confidence in Cardano’s framework. ETFs often attract substantial capital inflows, as witnessed in Bitcoin’s case, and could lead to broader participation from traditional financial institutions.

A Cardano ETF would also enhance the blockchain’s visibility in mainstream markets. By bridging the gap between decentralized technology and conventional finance, it could help solidify ADA’s presence as a long-term investment option within diversified portfolios.

Phalanx Update and Network Security

Cardano’s development team recently announced Phalanx, a security upgrade aimed at strengthening its Proof-of-Stake protocol. The upgrade introduces a Verifiable Delay Function (VDF) to mitigate “grinding attacks,” which exploit random seed generation to manipulate block leader selection.

The Phalanx upgrade will be deployed through a hard fork as it modifies Cardano’s base protocol. This advancement reinforces the network’s resistance to actors controlling large ADA stakes, particularly those exceeding 20%. More than 115 million transactions are processed, reflecting its focus on stability and scalability.

The post Cardano’s $0.60 Support Faces Test — Will Cardano’s ETF Push Trigger the Next Big Move? appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.