Has the US Shutdown killed Cardano ETF hopes? ADA price prediction is under pressure as the crypto market braces for a major macro week with FOMC.

Crypto ETF investors are encountering more delays as Washington’s gridlock persists.  The US Securities and Exchange Commission missed its deadline this week to decide on three proposed XRP ETFs and Grayscale’s Cardano ETF. 

The agency hasn’t issued any updates, as much of its work remains stalled due to the federal government shutdown that began on October 1.

With operations slowed, ETF approvals are effectively on hold. The shutdown is now the second-longest in US history, and there’s little optimism it will end soon. 

A new Polymarket poll shows traders giving just a 6% chance that it wraps up by October 31. 

(Source: Polymarket)

If it continues into November, it would break the 35-day record set during Donald Trump’s first term.

For now, the lack of clarity from regulators leaves altcoin ETF supporters waiting and markets watching for any sign of movement from Washington.

Kevin Hassett, Director of the National Economic Council, said on Monday that a deal could be reached this week as the Senate prepares for its 11th vote to fund the government and reopen agencies.

Even with the holdup, optimism for a Cardano ETF is holding firm. Bettors on Polymarket now give it a 77% chance of approval by 2025. 

(Source: Polymarket)

The mood in the altcoin ETFs has also started to mend since September, when the SEC reduced the look-through period of spot crypto ETFs from 240 days to 75.

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Cardano Price Prediction: Can ADA’s Inverted Head-and-Shoulders Pattern Signal a Bullish Reversal?

Market Cap

In the meantime, the heatmap of ADA shows price consolidation at a value of approximately $0.675. 

There is a tight stacking of liquidity on both sides, indicating a balance between sellers and buyers. 

Powerful sell orders lie between $0.678-$0.682, constituting a short-term resistance area. At the bottom, there is a demand concentration at $0.67 and $0.666, where buyers still intervene.

Massive red bubbles in the mid-range indicate forceful sells, i.e., sellers have mastered the momentum in the short term and have failed to bust the structure. 

The decrease in trading volume substantiates poor participation, which typically indicates that a larger movement may be forthcoming.

At least, ADA remains trapped between thin support and resistance lines. Additionally, a close above $0.682 may pave the way for greater targets, while a decline to below $0.67 may trigger fresh selling.

Cardano (ADA) also experienced its first significant break in weeks, surpassing a downward-trending line on the 4-hour chart. 

Traders are also observing a potential inverted head-and-shoulder formation, which suggests a change from bearish to bullish sentiment.

The price performance of Cardano indicates that the break of the neckline occurred within the range of $0.662, establishing a potential reversal formation. 

(Source: X)

It is currently trading at short-term resistance as it holds above its 50-day moving average. 

RSI has been climbing steadily, reflecting a gradual return of buying pressure after weeks of sideways movement.

Still, analysts warned that Sunday’s light trading could limit follow-through. If liquidity stays thin, the breakout may lose strength. A move above $0.682 would confirm the bullish shift, while a dip below $0.64 would invalidate it.

For now, ADA’s structure suggests early recovery signs, although traders are waiting for stronger volume before declaring a full trend reversal.

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jrmiller
jrmiller

Jonathan R. Miller is a junior writer based in Columbus, Ohio, with a growing focus on blockchain technology, digital assets, and fintech innovation. With a background in economics and communications, Jonathan began covering cryptocurrency in 2022 through freelance research projects... Read More

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