Cardano (ADA) has once again left investors grappling with disappointment after failing to sustain its recent price surge. The cryptocurrency initially broke past the $0.80 resistance, reaching $0.8159, sparking optimism among traders. However, that momentum was short-lived, with ADA retreating from its 15% intraday gain as selling pressure mounted. Institutional Players Enter the Scene—But Is It Enough? Recent data from CoinMarketCap reveals that despite the price pullback, ADA has managed to consolidate some of its earlier gains. Analysts suggest that Grayscale’s filing for a Cardano exchange-traded fund (ETF) could be a driving force behind the recent rally, as institutional interest often brings renewed confidence in an asset’s long-term prospects. While this surge in attention briefly fueled bullish sentiment, it wasn’t enough to sustain ADA’s upward trajectory. The resurgence of bearish activity has hindered further gains, though investor interest remains strong. A notable indication of this is the 88.84% spike in trading volume, which now sits at $1.5 billion in the past 24 hours. Market observers attribute this surge in activity to the ETF filing, which has reignited discussions around Cardano’s future potential. At present, ADA is valued at $0.7934, reflecting a 12.98% increase over the last day. Despite its struggle to push higher, the asset has managed to hold above $0.75, keeping hopes alive for another breakout attempt. Can Upcoming Network Upgrades Propel ADA to New Heights? With Grayscale’s ETF application setting the stage for increased institutional participation, speculation is growing that other asset managers may soon explore similar opportunities for Cardano. However, beyond institutional influence , key network upgrades could play a crucial role in shaping ADA’s trajectory. Two major upgrades —the Plomin Hard Fork and Ouroboros Leios—are expected to enhance Cardano’s decentralization and scalability, potentially making the blockchain more attractive for developers and users alike. These improvements could be a catalyst for ADA’s price appreciation, providing the foundation for long-term growth. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Some market analysts speculate that ADA could push toward the $1.90 level following these upgrades, though reclaiming its all-time high of $3.10 (set on September 1, 2021) remains a distant goal. If ADA successfully breaches the psychological $1 threshold, further upside targets include $1.06, $1.37, and $1.60—provided that trading volume and market sentiment remain favorable. On the flip side, if bearish trends continue, ADA could retrace toward the $0.50 level, posing a significant challenge for investors hoping for a sustained rally. Will ADA Deliver on Its Long-Term Promise? While Cardano’s near-term price action remains uncertain, its growing institutional appeal and network enhancements suggest that the cryptocurrency’s long-term prospects remain compelling. Whether ADA will capitalize on these developments or struggle under market volatility is yet to be seen, but for now, investors remain watchful of its next move. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Cardano (ADA) Rally Slows Down, Here Are Key Levels to Watch appeared first on Times Tabloid .
