Cardano Rockets 27% in a Month as ETF Hype Spikes 45% — Time to Bet on $5 ADA?

Cardano’s native token ADA just ripped past a 27% gain in 30 days—while whispers of a spot ETF approval saw odds leap nearly half. Traders are dusting off moon math, but can this altcoin really 10x from here?

The surge comes as institutional players suddenly care about ’proof-of-stake’—or at least the fees they’ll skim from retail chasing the next Bitcoin ETF proxy. Meanwhile, Cardano’s devs keep shipping upgrades while the market pretends to understand them.

Five bucks would mean a $175B market cap. Possible? Sure. Likely? Ask the ’stablecoin yield’ gamblers now eyeing ADA staking rewards. Just remember: Wall Street’s crypto love always expires right after the paperwork clears.

The market outlook for ADA is becoming increasingly bullish, courtesy of the asset’s continued upward movement in May. According to a market expert, the second half of the month looks even more promising for the altcoin. 

In a recent post shared with X, prominent pseudonymous analyst Ali_Charts shared a potential scenario for the 9th-largest cryptocurrency by market cap. The analyst forecasted $1 as a potentially attainable near-term price point for ADA bulls.

As depicted in his ADA technical chart, which dates back to December 2024, a long-term bullish formation signals a possible price hike to the $1 mark. However, the analyst asserted that this scenario is only attainable if bulls successfully break above the $0.81 resistance level. 

Once the hurdle is crossed, ADA bulls could target $1 as the next price mark for the altcoin. The analyst wrote, “If Cardano ADA breaks above the $0.81 resistance, it could set its sights on $1.”

If #Cardano $ADA breaks above the $0.81 resistance, it could set its sights on $1. pic.twitter.com/cigCc7NFwG

While failure to break resistance has sent the bulls below the $0.80 price mark, the possibility of a retest is still very likely, as the bulls have managed to contain extreme selling pressure.

At the time of this report, ADA is trading for $0.79, with sustained weekly gains sitting at 6%. Bulls have notably sustained a slow but steady recovery over the past month, with 30-day gains soaring above 27%.

Alongside the positive technical outlook for ADA, another fundamentally bullish uptrend has been spotted in the broader cardano market. According to data from Taptools, the odds of ADA receiving a spot ETF have soared by 45% since the start of the year, signaling a rise in institutional interest in altcoin ETFs.

An ADA ETF approval could catalyze a price rally for the already promising asset, as with leading cryptocurrencies Bitcoin (BTC) and ethereum (ETH).