- Whales sold 530 million ADA in two days, pushing prices lower this week.
- Cardano was added to Grayscale’s Crypto 5 ETF, now trading on NYSE Arca.
- Whales sold 530 million ADA in two days, pushing prices lower this week.
Cardano’s price has fallen more than 3% in the past 24 hours, trading around $0.89 at the time of writing. The drop comes as analyst Ali Martinez revealed that whales sold over 530 million ADA in just the last 48 hours, adding to downward pressure on the token.
ADA Added to Grayscale’s Crypto 5 ETF
At the same time, the Grayscale CoinDesk Crypto 5 ETF (GDLC) began trading today on NYSE Arca.
The fund tracks the CoinDesk 5 Index and holds Bitcoin, Ethereum, XRP, Solana, and Cardano, marking ADA’s inclusion in the first U.S. multi-crypto ETF. ADA’s presence in the first U.S. multi-crypto ETF marks an important step, but it has not yet translated into price strength.
Related: Senate Banking Committee Roundtable to Feature Hoskinson on Crypto Legislation
October 26 is seen as a key date for Cardano. On prediction platform Polymarket, participants give more than a 90% chance that a dedicated Cardano ETF will be approved in 2025. Such approval could bring new demand for ADA from institutions.
Additionally, Cardano founder Charles Hoskinson added to the attention, stating this week that “Cardano is going to break the internet.”
ADA Short-Term Price Prediction
Cardano’s price has mostly moved sideways in recent weeks, with no clear breakout or strong trend forming. There was short-term volatility, but overall, ADA has stayed range bound.
Right now, resistance sits near $0.98–$1, and ADA needs to break above this level to confirm a stronger upward move. On the downside, immediate support is between $0.87 and $0.90. If the price falls below $0.87, it could drop further toward $0.81–$0.84.
A decisive move above $1 could open the way to higher targets, but a break below support would signal more weakness.
ADA Long-Term Outlook Still Bullish
Despite near-term weakness, some analysts remain confident in ADA’s long-term path. Javon Marks argued that Cardano’s “most bullish state may have already kicked off,” with the potential for a run of more than 432% that could lift prices beyond $5.
In the most bullish case, ADA could reach as high as $8 in the next cycle.
Related: Cardano (ADA) Price Prediction For September 20
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