Cardano Price Prediction: Can 75% ETF Odds Push ADA to $1?

Cardano (ADA) is back as an altcoin to watch in May, trading just below $0.70. At the time of writing, ADA is priced at $0.6950, down 0.65% on the day and 4.1% on the week. Despite short term weakness, sentiment is turning bullish—thanks to strengthening technicals and momentum around a potential Cardano ETF.

Cardano Triangle Breakout May Be Trend Shift

Technically, ADA is consolidating in a symmetrical triangle—right above a key trendline support that has held since early April. Price is sandwiched between $0.6704 support and $0.7268 resistance, with the 50-EMA ($0.6962) flattening and the MACD showing neutral momentum. This tightening range means a breakout is imminent.

• Breakout level: $0.7268

• Up targets: $0.7470 → $0.7723

• Downside risk: Below $0.6704 could go to $0.6430 and $0.6109

Traders are watching this squeeze as breakouts from symmetrical triangles often lead to big moves. A close above $0.7268 could set up ADA to retest higher resistance zones.

ADA ETF Filing Pumps Bullish Expectations

The case for ADA isn’t just technical. A big catalyst is brewing in the form of an ETF. Digital asset manager Grayscale has filed for a Cardano ETF with the New York Stock Exchange—instilling institutional interest in the altcoin.

Bloomberg analysts Eric Balchunas and James Seyffart estimate 75% chance of approval, citing the SEC’s evolving stance after approving Bitcoin and Ethereum ETFs. If approved, the ADA ETF could unlock institutional flows into the Cardano ecosystem.

Why ETF sentiment is building:

• Strong institutional demand for regulated crypto products

• Grayscale’s established legal framework and infrastructure

• Broader regulatory shift towards altcoin ETF approvals

Cardano Analysts See $0.88 to $1 as Next Targets

Technical analysts are optimistic. Ali Martinez says $0.74 is the breakout level to watch. If ADA clears that, next up targets are $0.88 and potentially $1.Even popular crypto voice “STEPH IS CRYPTO” is calling for a $5 long term target on ADA if ETF is approved and follows through. That’s a big ask but it shows how undervalued ADA is in this cycle.

For now, just watch the triangle. A close above $0.7268 with volume would confirm the bullishness, a drop below $0.6700 would invalidate the setup and change sentiment.

Conclusion: With technicals, ETF and institutions aligning, Cardano is one of the best altcoins for May.