Cardano Gears Up for Recovery as Grayscale’s Bigger Bet Sparks Hope ⋆ ZyCrypto

Cardano (ADA) is hinting at a bullish reversal after a brief dip, according to analyst GainMuse. 

Well, ADA tested lower support after breaking a short-term rising structure but quickly stabilized, forming a potential higher low, suggesting a rebound if the support zone holds.

Notably, Cardano’s key levels entail support at $0.27 and resistance near $0.29. Currently trading at $0.2581 per CoinGecko data, ADA sits in a range that could dictate its next move.

Gain Muse acknowledges that as long as $0.25 holds, consolidation may continue, potentially paving the way for a push toward $0.29, bullish news amplified by a recent $161M buying spree by Cardano whales.

Cardano Gains Ground in Grayscale Smart Contract Fund

Institutional confidence in Cardano is on the rise. Market analyst Zach Humphries points out that Grayscale’s Smart Contract Fund slightly boosted its ADA allocation from 19.50% to 19.55%, a small move, but one that signals growing institutional endorsement.

Therefore, Grayscale’s increasing exposure to Cardano, now at 20.07% of its fund, reflects growing institutional confidence in ADA’s long-term potential. This steady accumulation signals strong endorsement for Cardano within the smart contract ecosystem, highlighting its rising appeal to major investors.

What’s the key takeaway? Well, Cardano is showing signs of a potential rebound if the $0.27–$0.29 support zone holds. Technical stabilization, coupled with growing institutional interest, sets the stage for bullish momentum.

As a result, this range should be watched closely, as price action here could signal ADA’s next directional move, suggesting cautious optimism in the near term.