Cardano Retests Key Support Following SEC Delay of ETF Decision

Cardano ETF Delay Impacts Price Action

The U.S. Securities and Exchange Commission (SEC) has delayed the decision on Grayscale's spot Cardano (ADA) Exchange-Traded Fund (ETF) by two months, pushing the final deadline to October 26, 2025. This follows a trend of multiple delays for crypto ETFs.

Key Developments

• ADA has been trading in a $0.84-$0.96 range since early August, reaching a high of $1.02 on August 14.
• The cryptocurrency retested the $0.85 support level several times but briefly fell below $0.84 during recent market corrections.
• Analysts suggest a potential bullish rally for ADA, with targets between $1.70-$2.10 if historical patterns repeat.
• Current price is $0.87, reflecting a 4% daily increase.
• Market movements are closely linked to Bitcoin's performance, with concerns about possible further retracements.

Chart Analysis