Cardano faces a crucial crossroads as ETF optimism clashes with bearish technicals and rising whale sell pressure near key support levels.

With ETF optimism heating up and institutional eyes turning back toward altcoins, Cardano may be gearing up for a major comeback. A new Bloomberg report puts the odds of a Grayscale-backed ADA ETF approval at 75%.

Cardano ETF Approval Odds Hit 75%

Cardano just received major positive news from a new Bloomberg report suggesting there’s a 75% chance its ETF, backed by Grayscale, will be approved in 2025. Even more significantly, Bloomberg analysts point out that the SEC likely views ADA as a commodity, not a security, a distinction that could help fast-track approval and avoid the regulatory entanglements.

Cardano’s ETF approval odds jump to 75%, signaling potential institutional inflows and a shift in SEC perception. Source: Cardanians via X

It brings in new investor classes, particularly institutions that require regulatory compliance before allocating capital. If Cardano’s ETF moves forward, it could enhance liquidity, stabilize volatility, and give the project more room to grow.

Cardano Ranks Top 5 in Social Strength

In a staggering data revealed by CryptoDep, Cardano has secured a spot among the top five crypto projects based on social activity. With over 18.4K posts and 2.34M interactions, ADA is clearly not flying under the radar.

Cardano ranks in the top 5 for crypto social activity with 18.4K posts and 2.34M interactions. Source: CryptoDep via X

These social activity number shows a strong Cardano community. As ETFs gain momentum and regulatory outlooks begin to clear, Cardano’s strong community could act as a leading indicator.

Cardano’s Chart Shows Caution Amid Broader Optimism

Following a wave of institutional optimism and strong community engagement, Cardano’s chart is not reflecting the same bullish tone. Although the price remains within a falling wedge, a pattern often associated with bullish reversals, analyst MasterAnanda cautions that ADA may still dip into the $0.57 to $0.52 range before any major recovery takes shape. This zone aligns with a key support cluster that has held multiple times over the past months. If this holds, once again, a macro bullish move towards $1.00 and $1.50 is on cards.

Cardano trades within a falling wedge as analysts eye a potential dip to $0.52 to $0.57 before any bullish breakout. Source: MasterAnanda via X

The structure remains technically valid for a bullish breakout, but only if these lower levels are defended with conviction. Until then, ADA Cardano price seems to be in a phase of consolidation, where short-term bearish pressure and long-term optimism are head-to-head.

ADA’s Price Structure Flashes Breakdown Risk

As the ETF narrative builds and community momentum stays strong, Cardano’s price chart is telling a more cautious story. Analyst Nebraskangooner points out a possible head and shoulders breakdown on the daily chart. With ADA hovering just below its neckline, this structure suggests a potential continuation to the downside if follow-through selling kicks in.

Cardano hovers below key neckline support as a head and shoulders pattern signals possible downside toward $0.50. Source: Nebraskangooner via X

From a technical standpoint, the neckline support near $0.60 has been tested multiple times and is now looking vulnerable. If this level breaks convincingly, downside targets could open up toward $0.52 to $0.50, aligning with prior demand zones and volume support.

Selling Pressure Mounting By Whales

As Cardano battles with a weakening technical structure, fresh on-chain data adds another concern to the mix. According to Ali Martinez, whales have offloaded over 270 million ADA in just the past week. That kind of sell-side volume, especially from large holders, is rarely a good sign when paired with an already fragile chart setup.

Whales offload over 270 million ADA in a week, adding sell pressure to Cardano’s already fragile technical setup. Source: Ali Martinez via X

This sudden shift in whale behavior aligns with the broader caution ADA Cardano price is seen building. From the head and shoulders breakdown flagged by Nebraskangooner to the potential dip toward $0.52–$0.50 mentioned by MasterAnanda, the pressure is stacking.

Final Thoughts: Bullish Scenario or Bearish Outlook?

Cardano finds itself at a pivotal point. On one hand, the ETF news is a game-changer, not only because of the 75% approval odds but also due to the SEC possibly viewing ADA as a commodity.

But on the other hand, the technicals and on-chain signals demand caution. Whale selling, possible breakdown patterns, and a fragile support zone paint a short-term bearish picture. If Cardano price can hold the $0.52 to $0.57 range and shake off the head and shoulders risk, the path toward $1.00 is very much alive.

In a volatile crypto market, Solana (SOL) price regained momentum lately. After surging 17% over the past six days through Friday, it rose from a low of $142 to $166 as of June 11. 

Such a rebound places SOL in an important resistance area. The technical indicator, DeFi usage, and ETF-related developments were all favoring additional gains.

As investor engagement increases and fundamentals improve, Solana price seems ready to challenge critical levels in the coming days.

Solana Price Eyes $180 After Reclaiming Support

The latest upward trend in Solana price is the result of a successful bounce off the $142 support zone. This recovery has restored the confidence among traders. The volumes have gone up by over 40% in a day, as indicated by CoinMarketCap.

At press time, SOL price was approximately $158 and tested a crucial horizontal resistance area between $165 and $170.

Technical analyst Posty highlighted a breakout setup showing Solana price reclaiming previous demand zones and forming higher lows. The structure favored a short-term rally up to the level of $180.

SOL Price has overcome the first resistance and now approaches mid-term consolidation zones. A bullish close above $170 would be a good indication that momentum is continuing, and the next technical target would be $180.

This follows the bullish structures on the 4-hour chart, and a clean break and retest sequence is developing.

As long as the altcoin maintains this bullish market structure, Solana price is expected to hold its upward trajectory.

Analyst Showed Bullish Structure for SOL Price With $220 Target

Furthermore, analyst Immortal strengthened the bullish thesis. In his analysis, he showed a classic inverse head-and-shoulders pattern developing around the $155-$160 area. This reversal formation indicates that the bottom of a new uptrend is being formed.

The chart also included a projected move showing Solana price rising to $220.62, representing a potential 39% upside from the current price.

Meanwhile, the immediate support of $153 -159 has been tested several times, which speaks of accumulation. The pattern’s neckline aligns closely with the $166 level currently being contested.

The chart risk-reward box highlighted an 8.1 to 1 reward ratio, which is a good example of asymmetric reward potential in favor of buyers.

This structure, combined with increasing trading volumes, supports a breakout continuation scenario. That is if SOL price stays above $159 and clears $170 on higher timeframes.

Network Activity Supports Bullish Outlook

In addition, Solana’s fundamentals support the ongoing rally. According to DeFiLlama data, Solana’s DeFi Total Value Locked has increased by $860 million over the past five days to $8.81 billion.

Interestingly, such a rise underscored a previously unseen level of on-chain activity, users interacting with decentralized exchanges and liquidity protocols.

Adding weight to this, DEX volumes on the Solana network almost doubled, with an increase of $1.53 billion on June 8 to $2.95 billion on June 11.

The price action has more supporting volume and liquidity surge, and bullish breakouts are more sustainable.

Increased activity is not limited to traditional DeFi. Trading meme coins on Solana blockchain also saw an increase, with the SOL-based meme coin market cap increasing by 6.7% over the last 24 hours. This speculative activity has historically preceded larger moves in Solana price.

ETF Approval Optimism Adds to On-Chain Momentum

On the regulatory front, spot Solana ETF approval odds have climbed to 61%, the highest since January, according to Polymarket.

This increase follows the U.S. Securities and Exchange Commission’s demand for updated S-1 registration statements of ETF issuers, as the regulator takes a step forward in the examination procedure.

Should regulatory developments proceed, a spot ETF launch can result in additional capital flows into SOL. In the meantime, the new development provides a solid macro story to the already positive technical and network indicators.

A top market analyst has suggested that Dogecoin will rally to a four-year high when the current downside ends, highlighting a major support level to watch.

Master Ananda shared this view in a TradingView analysis today amid a broader market recession. Bitcoin dropped to an intraday low of $102,758, sparking a broader market downtrend that did not spare Dogecoin.

DOGE, the largest meme coin by market cap, joined the wave and is already down 4.8% today. Unless the current momentum reverses, the token is on the cusp of its third consecutive losing day, having retraced 13.6% during this period.

Analyst Identifies Crucial Support

For context, Master Ananda noted that he expected Dogecoin’s current price crash as its chart structure formed a lower high on June 5, a sign of a bearish reversal. While Dogecoin rebounded from the lows of the earlier-mentioned date, it has given back its gains, aligning with the bearish indicator.

Meanwhile, the analyst identified macro support levels at the 0.618 and 0.786 Fibonacci retracement levels, at $0.178 and $0.158, respectively, that could serve as a short-term hedge against escalating price weakness. However, he noted that they are weak supports and may not suffice for the bearish momentum.

Notably, DOGE has broken down from the 0.618 Fib. Support level at its current price but remains 8.6% away from the 0.786 Fibonacci level. Master Ananda noted that if the levels fail to hold, Dogecoin seems poised to retest the lows last seen in April.

Specifically, Dogecoin bounced from a major support level around $0.13 in April, a level that served as support in July 2024 and as resistance in September 2024. Notably, the meme coin retested the support in October and November of the same year but bounced extensively at each retest.

The analyst expects the $0.13 support to tame Dogecoin’s bearish momentum again if prices dump to the level. He noted that the RSI would have to go into extreme weakness for prices to fall below, which is very unlikely.

What’s Next After Support Retest?

Interestingly, Master Ananda advised going all in at the April 7 lows if prices ever retraced to that point, insisting it would be a great buy. As Dogecoin bounced from the support in October before rallying over 200%, he predicted a similar outcome.

Per the accompanying chart, the analyst expects Dogecoin to rebound from the lows and target a four-year price high. He predicted an over 250% upsurge in support to levels above December’s high of $0.484.

Dogecoin trades at $0.173 at the time of writing, 20% away from this support and 180% from the projected high. It bears mentioning that other analysts see DOGE surpassing the $0.484 mark this cycle, with targets like $1 and $2.9 in the books.

Key points:

• Bitcoin searches for support near $103,000, but rising uncertainty in global markets could cap future rallies.

• Select altcoins are finding buyers at lower levels, indicating traders’ desire to buy the dip.

Bitcoin (BTC) corrected below $103,000 on news of Israel’s airstrikes on Iran, but a positive sign is that lower levels witnessed buying, pushing the price near $106,000.

Trading resource Material Indicators said in a post on X that Bitcoin’s bottom is unlikely to drop out, but sustainable upside price discovery may not happen before the next Fed meeting.

Another positive view came from a study by ETC Group head of research Andre Dragosch. It showed that Bitcoin recovers and often surpasses the pre-event price levels within 50 days. 

However, Bollinger Bands creator John Bollinger has a different view. In a post on X, Bollinger said that Bitcoin has completed three pushes to a high after forming the “W-shaped” double bottom near $75,000. During a discussion on the post, Bollinger added that three pushes to a high “means the end of the prior trend,” which could be followed by a “reversal or a consolidation.”

Could Bitcoin and select altcoins resume their uptrends? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Bitcoin fell to the 50-day simple moving average ($103,159) on Friday where the bulls are trying to arrest the decline.

The 20-day exponential moving average ($106,097) is flattening out, and the relative strength index (RSI) is near the midpoint, signaling a possible consolidation in the near term. The crucial levels to watch out for are $100,000 on the downside and the all-time high of $111,980 on the upside.

If the $100,000 level gives way, the BTC/USDT pair could tumble to $92,000. Conversely, a break and close above $111,980 signals the resumption of the uptrend. The pair could then soar to $130,000.

Ether price prediction

Ether (ETH) turned down from $2,879 on Wednesday and nosedived below the 20-day EMA ($2,580) on Friday, suggesting the markets rejected the breakout above $2,738.

The 20-day EMA is flattening out, and the RSI has dropped to the midpoint, indicating a balance between supply and demand. If the price turns up from the current level or $2,323, the bears will attempt to halt the relief rally in the $2,738 to $2,879 zone. If the price turns down from the overhead zone, the ETH/USDT pair may consolidate for some more time.

Buyers will have to catapult the price above $2,879 to start the next leg of the up move toward $3,153. On the downside, a break below $2,323 could sink the pair to $2,111.

XRP price prediction

XRP (XRP) broke above the moving averages on Monday, but the bulls could not build upon the momentum.

The price turned down on Wednesday and has reached near the solid support at $2. Buyers are expected to vigorously defend the $2 level as a break and close below it could signal the start of a new downtrend. The XRP/USDT pair could descend to $1.61 and, after that, to $1.28.

Contrary to this assumption, if the price turns up sharply from $2 and breaks above the moving averages, it suggests the range-bound action may continue for a while longer. 

BNB price prediction

BNB (BNB) has been consolidating between $693 and $634 for several days, indicating a balance between supply and demand.

The flattish 20-day EMA ($658) and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price turns up from $634 and rises above the 20-day EMA, the BNB/USDT pair could remain inside the range for some more time.

Contrarily, a break and close below $634 suggests that the bears have overpowered the bulls. That could intensify selling, pulling the pair to $600. Buyers are expected to aggressively defend the $580 to $600 support zone. 

Solana price prediction

Solana (SOL) rose above the moving averages on Monday, but the bulls could not sustain the higher levels.

The price turned down from $168 on Wednesday and broke below the moving averages on June 12. The SOL/USDT pair has reached the $140 support, which is a critical level for the bulls to defend.

If the price rebounds off the $140 support, the bulls will again try to shove the price above the moving averages. On the contrary, a break and close below $140 could sink the pair to $123 and eventually to $110.

Dogecoin price prediction

Dogecoin (DOGE) turned down from the $0.21 level on Wednesday, indicating that the price remains stuck inside the lower half of the $0.26 to $0.14 range.

There is support at $0.16, but it is likely to be broken. The DOGE/USDT pair could then plummet to the $0.14 support, where the buyers are expected to step in. A solid bounce off the $0.14 level could extend the range-bound action for a while longer.

The next trending move is likely to begin on a break above $0.26 or below $0.14. If the $0.14 level cracks, the pair could collapse to $0.10. On the other hand, a break above $0.26 could drive the pair to $0.38. 

Cardano price prediction

Cardano (ADA) turned down from the 50-day SMA ($0.72) on Wednesday, indicating that the bears continue to sell on rallies.

The down-sloping 20-day EMA ($0.69) and the RSI in the negative territory signal the bears have an edge. If the $0.60 level is taken out, the ADA/USDT pair could plummet to the solid support at $0.50. Buyers are expected to defend the $0.50 level with all their might.

The first sign of strength will be a break and close above the 50-day SMA. That opens the doors for a rise to the downtrend line, which is a significant level to watch out for. A break and close above the downtrend line suggests a potential trend change.

Related: Here’s what happened in crypto today

Hyperliquid price prediction

Buyers pushed Hyperliquid (HYPE) above the $42.25 resistance on Wednesday and again on Thursday, but could not sustain the higher levels.

That may have tempted short-term buyers to book profits, pulling the price toward the breakout level from the symmetrical triangle pattern. The upsloping 20-day EMA ($35.93) signals an advantage to buyers, but the developing negative divergence on the RSI suggests the bullish momentum is weakening. Buyers will have to propel the price above $44 to resume the uptrend toward $50.

On the downside, a break and close below the 20-day EMA could accelerate selling, pulling the pair to $30.50.

Sui price prediction

Sui (SUI) turned down from the 50-day SMA ($3.55) on Wednesday, indicating that bears are fiercely defending the level.

The SUI/USDT pair has reached solid support at $2.86, which is a crucial level to watch out for. Sellers will try to seize control by pulling the price below the $2.86 level. If they can pull it off, the pair could tumble to $2.50.

Buyers are likely to have other plans. They will try to defend the $2.86 level. If the price bounces off the $2.86 support, the pair could reach the moving averages. If the price turns down sharply from the moving averages, it increases the risk of a break below $2.86. Buyers will have to drive the pair above the moving averages to clear the path for a rally toward the $4.25 resistance. 

Chainlink price prediction

Chainlink (LINK) turned down and re-entered the descending channel pattern on Thursday, indicating that sellers are active at higher levels.

The bears are trying to pull the price below the $12.64 support. If they manage to do that, the LINK/USDT pair risks a fall to $10. Such a move extends the pair’s stay inside the channel for a few more days.

Buyers will have to swiftly push the price above the $16 level to prevent the downside move. That indicates aggressive buying at lower levels. The pair could rise to $18 and then to $20, signaling a potential trend change.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.