Cardano Price Prediction: ADA Eyes $2.00 as ETF Buzz and On-Chain Strength Align

Cardano is suddenly back in the headlines thanks to fresh ETF buzz. News that Grayscale has registered for a potential Cardano ETF in Delaware has sparked a wave of optimism across the ADA Community.

Cardano is back in the spotlight after Cointelegraph announced that Grayscale has registered for a potential Cardano ETF in Delaware, a move that many in the market see as a significant step towards broader institutional adoption. While nothing is confirmed yet, the registration signals a growing acceptance of ADA among traditional finance institutions.

Cardano’s ETF buzz sparks renewed market optimism. Source: Cointelegraph via X

From a technical perspective, ADA’s recent momentum, coupled with this ETF narrative, could provide the fuel needed for a sustained breakout. If price action remains this strong, then ADA is likely to have a strong month of August.

Crypto analyst Mr Banana believes that Cardano’s sharp V-shaped recovery from $0.76 to $0.83 has reignited bullish sentiment, with the rebound closely tied to the recent ETF registration buzz. This surge in momentum has pushed ADA back into a strong technical structure, breaking above short-term resistance and restoring confidence.

Cardano’s sharp V-shaped rebound and rising volume strengthen bullish momentum, with $1.00 and $2.00 now key targets. Source: Mr Banana via X

The rising volume on this breakout further validates the strength behind the move, hinting that bulls remain firmly in control.

If ADA can sustain its climb and establish $0.85 to $0.90 as a solid support zone, the path towards $1.00 looks increasingly likely. From there, a decisive breakout could accelerate the rally towards the much-watched $2.00 mark before month-end, especially with the ETF narrative continuing to fuel institutional and retail interest alike.

ADA weekly chart is beginning to show a notable shift in momentum, with its mid-term trend indicators starting to tilt into bullish territory. This transition comes right after the strong ETF-driven rebound, hinting that market sentiment is not only reacting to news but also aligning technically for a sustained move. The base formation over recent months now appears to be rounding off, providing a stronger platform for upside continuation.

ADA’s weekly chart shows a bullish mid-term shift, with price and indicators aligning for potential gains beyond $1.00. Source: Trend Rider via X

If this transition completes and ADA maintains its upward pressure, the combined strength of improving technicals and the ongoing ETF narrative could fast-track price run beyond $1.00.

TapTools points to a major on-chain milestone, over 15 billion ADA has remained unmoved for more than a year, marking the highest long-term holder share in the asset’s history. This unprecedented level of dormant supply reflects strong investor conviction, significantly tightening available market liquidity and setting the stage for sharper price moves when buying pressure builds.

ADA long-term holders hit an all-time high. Source: TapTools via X

The development aligns with ADA’s recent rebound, reinforcing a steadily improving market backdrop for August. Historically, periods of high long-term holder dominance have preceded some of the most notable breakouts, as reduced circulating supply amplifies the impact of fresh demand. If ADA can maintain its current momentum above short-term resistance, this supply squeeze could become a key driver in propelling price action higher.

Right now, the scales seem to tip in favor of the bulls. The ETF registration news has injected fresh energy into ADA’s market, pairing perfectly with the recent V-shaped rebound and breakout above key resistance. If momentum holds and the $0.85 to $0.90 zone flips into solid support, the road to $1.00, and possibly $2.00, could come into action.

The technicals and on-chain data lean bullish, and the stage is set for an August that could bring Cardano’s much-awaited breakout.