Cardano ETF Approval Odds Hit 84% As Price Moves Past $0.80

The Cardano price is in the spotlight, with approval odds for an ETF rising to 84% on Polymarket as the coin trades above $0.80.

As revealed, the jump in ADA price and betting interest followed a week of substantial gains in the broader crypto market.

Notably, ADA is showing signs of growing momentum across both trading volumes and network activity.

Cardano Price Breaks $0.80 Amid ETF Sentiment

The price level marked a key recovery point for ADA, which had spent several weeks trading below primary resistance levels.

This increase followed a 14% rally over the past seven days, with ADA bouncing from a low of $0.54.

At the time of writing, Cardano price was trading at $0.8011, with a trading volume of $2.46 billion.

Traders noted a rounding bottom pattern on the chart, which often indicates a shift in market direction.

It is worth noting that the rise in ETF odds coincided with increased buying activity.

A move above the $0.74 resistance line and the 200-day simple moving average helped confirm the change in trend.

Market participants said further gains could depend on whether the ADA price stays above these key levels.

Polymarket users placed higher bets on an ETF approval as speculation around new crypto products grew.

In June, the odds were pegged around 42%. The latest figures suggest a change in sentiment, though there is no confirmed timeline for a decision from U.S. regulators.

Polymarket Odds Reflect Shifting Sentiment

It is worth noting that the 84% approval figure on Polymarket came as traders continued to monitor signs from the SEC