Cardano has staged a sharp rally, climbing to $0.98 on August 14 after a 16% daily gain.
The move has stirred talk of a possible push toward $1.50, with traders pointing to strong technical setups and fresh market catalysts.
Momentum has been building since ADA crossed a key barrier around $0.94, a level that analysts say could act as the launchpad for gains toward $1.20 and beyond.
Charts show an inverse head-and-shoulders formation — a pattern often linked to bullish reversals — while the relative strength index sits comfortably below overbought territory.
Failure to maintain recent gains, however, could see the price drift back into a $0.85–$0.94 range.
Away from the charts, speculation over a potential Cardano ETF is adding fuel to the rally.
Grayscale’s decision to set up new trusts for Cardano and Hedera has drawn attention, as the firm has a history of preparing such structures ahead of product launches. The move has sparked optimism that ADA could soon attract greater institutional exposure.
The sentiment boost is reinforced by Cardano’s leap in Grayscale’s performance rankings — jumping from ninth to third place in its “Top 10 Crypto Assets by Weekly Returns” list in early August.
With technical patterns signaling strength and ETF chatter driving investor enthusiasm, Cardano’s short-term outlook appears primed for further gains, provided it holds above its newly won support levels.
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Source: https://coindoo.com/cardano-news-traders-bet-on-etf-launch-is-1-50-next/