Cardano Holds Channel Support as ETF Filing Renews Breakout Hopes Toward $0.36

Key Insights:

• Cardano ETF filings aim for NYSE Arca listing, including spot and leveraged 2×, 3× ADA products.
• ADA trades above $0.29 with rising volume, holding channel support as traders eye breakout near $0.36.
• Cardano DeFi TVL drops to $136.9M from $700M peak, with daily DEX volume now around $4.15M.

Cardano (ADA) is showing early signs of price recovery as it continues to hold within a key trading channel. Recent market activity placed the ADA price just above $0.29, while traders watch for a potential move toward $0.36.

At press time, Cardano is trading at $0.295, up 2.33% over the past 24 hours. Trading volume has also risen, reaching over $639 million in a day. At the same time, new ETF filings involving Cardano have added to market discussions.

ETF Filing Brings Attention Back to Cardano

Volatility Shares, a firm managing over $7 billion in assets, has submitted updated filings to the U.S. Securities and Exchange Commission (SEC). The firm is seeking approval for three new exchange-traded fund (ETF) products focused on the asset.

These include a spot ADA ETF and two leveraged ETFs with 2× and 3× exposure. All three products are aimed at listing on the NYSE Arca. If approved, these would be the first ETF offerings centered on Cardano in the U.S. market.

The filings come during a time of weak performance in the asset’s DeFi activity. Still, the ETF news may increase market exposure and interest. Some analysts see this as a move that could boost institutional participation.

ADA Eyes $0.36 Resistance as DeFi Activity Slows

Cardano’s price recently closed two consecutive days within a trading channel, and the weekly candle ended near the trendline. Based on Sssebi’s technical analyst’s view, this is a possible setup for a move toward the upper boundary of the channel, near $0.36.

Meanwhile, Cardano’s DeFi sector continues to face falling numbers. The total value locked (TVL) on the network dropped to $136.9 million as of February 3, 2026. This is far below its peak of over $700 million in early 2025.

Daily decentralized exchange (DEX) volume also remains low. Current levels are near $4.15 million, which reflects reduced user engagement. Cardano’s DeFi applications are still active, but trading and lending activity have declined.

Despite these figures, developers remain active in updating the network and launching new features. The price movement, combined with recent chart structure, suggests ADA may attempt a move higher.