Cardano (ADA) Targets $1.60 Surge After Vanguard Bitwise 10 Crypto Index Nod
Forget waiting on the sidelines—Cardano just got the institutional green light. Vanguard's move to list the Bitwise 10 Crypto Index Fund, which holds ADA, isn't just another filing. It's a direct pipeline from traditional finance's old guard into the heart of proof-of-stake innovation.
The Institutional Stamp You Can't Ignore
This isn't about a random fund. Vanguard manages trillions. Their due diligence process is a fortress. Adding an index containing Cardano signals a seismic shift in risk assessment—Wall Street is finally looking past the Bitcoin and Ethereum show. It validates the research-driven, peer-reviewed approach that has long been Cardano's hallmark, turning academic rigor into a tangible asset on a Bloomberg terminal.
Why $1.60 Is Now in Play
The math gets simple with institutional flows. The listing creates a new, automated buy-pressure mechanism. Every fund that tracks this index now has a mandate to hold ADA. It's not hype-driven speculation; it's structural demand. This provides a formidable floor for the price and a launchpad for the next leg up. Technical charts that once showed resistance now point toward that $1.60 territory as a logical target, a level that would mark a decisive breakout from recent consolidation.
Beyond the Price Pump: A Network Effect
True growth isn't just on the charts. This kind of exposure brings developer eyes and enterprise consideration. Building on a chain that major institutions are willing to custody? That's a different pitch altogether. It accelerates the flywheel: more credibility attracts more serious projects, which boosts network utility, which in turn justifies the valuation. It moves Cardano from a 'crypto asset' to an investable infrastructure layer.
The finance old guard might still debate crypto over cigars, but their capital is already voting with its feet—straight into the protocols building the next web. Cardano, with its latest institutional endorsement, isn't just joining the party. It's helping set the table.
Cardano (ADA) Technicals Suggest a Corrective Phase
Technically, the weekly chart of ADA is clearly showing a downward trend. The price is currently below the mid-Bollinger Band (20 SMA at $0.7120) and remains close to the lower Bollinger Band, further indicating a bearish trend. After the small rally seen during November 2024, it dropped significantly, breaking several support points, further revealing strong bearish pressure.
Source: TradingView
RSI (14) is at 33.97, which shows cardano is close to an oversold level but not significantly so. Selling is strong, but a temporary bounce is possible if buying pressure increases. In the past, such RSI readings resulted in stabilization and slight correction phases, which gave cautionary traders a chance to look out for reversals and further downward movements.
Cardano (ADA) Could Rally to $1.60 if Support Holds Strong
Moreover, the crypto analyst, ROSE Premium Signals, highlighted that Cardano is again testing the lower side of the downward channel, which is closer to the critical support zone at $0.40. Initial buying volume is starting to increase, which is an indication that bullish power could start building. Market participants are closely monitoring the retests by bulls at the important level, which is a sign of a possible reversal.
Source: Rose Premium Signals
If support is sustained, ADA may target a number of higher levels, starting with $0.51, then $0.68, and finally $0.95. Further breaks could see it targeting $1.25 and then $1.60. Cardano is now on the brink of a strong bullish reversal, but only if the bulls hold on to support.
Also Read: Cardano (ADA) Breaks Key Resistance as Market Watches Crucial Support Levels
