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Cardano (ADA) price deviates before testing resistance – where is it heading next?
The Cardano (ADA) price is currently navigating a consolidation phase as it trades around $0.662, having bounced between $0.654 and $0.678 over the past 24 hours. The crypto has pulled back nearly 10% from its April highs, but early signs of potential reversal supported by external factors are emerging.
The ADA price previously broke down from the ascending trend line last week, which triggered a short-term dip. As such, it is essential for the third-generation token to sustain above $0.65 throughout the week or else the bears could reclaim their dominance for a short while.
In an update that bodes well for Cardano, the Nasdaq has filed SEC Form 8-K, confirming its proposal of expanding crypto benchmark. This development has seen the inclusion of XRP, Solana, Stellar, and Cardano itself. It is viewed as a significant win for crypto exposure as more altcoins join the Nasdaq. Meanwhile, the SEC’s approval remains pending, anticipated to take place in the first few days of November 2025.
As the ADA price rebounds from recent dips, it is essential to consider whether ETF demand could fuel further upside.
Source: coinpedia.org
