🤔 ADA’s Price Plunge: Will the SEC Save the Day? 🚀

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Cardano‘s ADA, at a mere $0.65, took a tumble—more than 9% today—like a trapeze artist without a net. The monthly deficit? Awhooping 33%! Yet, in the midst of this chaos, the US Securities and Exchange Commission (SEC) deigned to acknowledge Grayscale’s Cardano ETF proposal. How generous of them! 😲

ADA’s support levels are being tested like a new chef in a busy kitchen. Crypto soothsayer AV Sebastian foresees a potential support zone in the $0.68–$0.65 range. Let’s see if ADA can cook up a storm or just burn the place down. 🔥

Source: AV Sebastian

Sebastian hints at a double-bottom pattern, the kind that might make you do a double-take. Will ADA rise like a phoenix or continue its swan dive? Only time will tell. ⏳

As per CoinGlass, the ADA price dive caused a cool $5.64 million in crypto market liquidations. Futures open interest? Down by 11.5% to $571 million. Someone call the lifeguard, the pool’s getting shallow! 🏊‍♂️

Cardano is jostling at the front of the crypto ETF approval line, along with Litecoin, XRP, and Solana. The SEC’s acknowledgment is like a nod from the queen—exciting but not exactly a hug. 🤴👑

The Cardano ETF’s potential arrival has a 60-70% chance, says Bloomberg. Will it be a triumph or a token effort? NYSE Arca submitted the proposal, and now we wait with bated breath. 🤑

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2025-02-25 13:17