Cardano Retests Key Support As SEC Delays ETF Decision – Is An October Rally Brewing?
The post Cardano Retests Key Support As SEC Delays ETF Decision – Is An October Rally Brewing? appeared on BitcoinEthereumNews.com.
As the decision on Grayscale’s spot Cardano (ADA) Exchange-Traded Fund (ETF) has been delayed, the altcoin is retesting a key area. Some analysts have suggested that a massive rally is brewing after the price bounced from the range lows. Cardano Drops As Spot ETF Gets Delayed On Tuesday, Cardano started to recover from its start-of-week correction after bouncing from a crucial area. The cryptocurrency has been trading within the $0.84-$0.96 price range since its breakout in early August, reaching a five-month high of $1.02 on August 14. During the recent market pullbacks, ADA has retested the $0.85 area as support multiple times and has been attempting to reclaim the $0.90 resistance, momentarily holding this level over the weekend. However, Monday’s correction, which saw Bitcoin drop to its lowest level in over a month, sent Cardano back to the range lows, briefly losing the $0.84 support before starting to recover. Amid the retracement, the US Securities and Exchange Commission (SEC) delayed the deadline for Grayscale’s spot Cardano Exchange-Traded Fund for two months. “The Commission is extending the time period for approving or disapproving the proposed rule change for an additional 60 days. The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” the regulatory agency explained in the Monday filing. Accordingly, the SEC has postponed the final decision deadline to October 26, 2025. This follows the Commission’s recent two-month delays of many crypto-based ETFs. Earlier this month, the regulatory agency announced it had pushed back the decision deadline for multiple spot Solana ETFs, including Grayscale’s, to October 16. Similarly, it extended the review deadline of several spot XRP and PENGU ETFs…
Filed under: News - @ August 27, 2025 8:27 am