Coinspeaker
Jan 9, 2026
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Grayscale’s Cardano ETF Awaits SEC Approval Amidst ADA Price Consolidation

Futures volume on BitMEX increased significantly by over 16,400% to $44.15 million despite a recent 17% drop in the market.

  • ADA is holding its support zone between $0.30 and $0.35, currently trading near $0.40, which is 87% lower than its all-time high of $3.10.
  • Traders are monitoring developments regarding a potential spot ADA ETF. Grayscale's application is under SEC review with no approval yet expected until early 2026.

Cardano Price Chart

ADA Price Analysis

  • ADA experienced a slight bounce after being rejected below the descending trendline.
  • Price compression is observed with volatility contracting near historical demand.
  • The MACD indicator is slightly positive, while RSI reads 50, indicating a possible bullish reversal if resistance is cleared.
  • Resistance levels: First at $0.70, then $1.30-$1.35. A move beyond could target $2.
  • Support level: Critical at $0.30, with potential for major correction if breached, revisiting $0.27-$0.28 lows.

The article also mentioned Bitcoin Hyper, a new presale project aiming to integrate Solana's technology into the Bitcoin ecosystem, though this section contained promotional content not relevant for investment decision-making.