Cardano (ADA) Price: SEC Delays ETF Decision to July 13 as ADA Drops 4%

TLDR

Table of Contents

Cardano (ADA) declined below $0.80 but is attempting recovery above $0.750 level
SEC delayed Grayscale’s Cardano ETF decision from May 29 to July 13, causing ADA to drop 4%
Polymarket traders show 67% confidence in Cardano ETF approval by year-end despite delays
Cardano rejoined eToro’s trading platform after the exchange settled SEC issues with $1.5 million fine
Technical analysis shows potential for recovery if ADA breaks above $0.7840 resistance level

Cardano price has experienced fresh downward pressure following regulatory developments and technical resistance challenges. The cryptocurrency declined below the $0.80 zone before attempting a recovery wave.

ADA dropped to a low of $0.7287 before bulls stepped in to support the price. The recovery has pushed Cardano above the $0.750 resistance level and the 100-hourly simple moving average.

Technical indicators show a break above a bearish trend line with resistance at $0.750 on the hourly chart. The price climbed above the 23.6% Fibonacci retracement level of the recent decline from $0.8380 to $0.7287.

SEC Delays Cardano ETF Decision Again

The US Securities and Exchange Commission has delayed Grayscale’s spot ETF applications for Cardano and Avalanche. The decision date moved from May 29 to July 13, with a final deadline set for October 22, 2025.

🚨SEC delays Grayscale $ADA ETF decision. pic.twitter.com/5YCzwR78dH
— St₳ke with Pride 🌈 SPO & DRep (@StakeWithPride) May 28, 2025

This regulatory delay caused Cardano to slip 4% while Avalanche dropped over 2%. A favorable ETF decision was expected to push ADA past the $0.80 mark.

Grayscale originally filed for the Cardano Trust listing with NYSE Arca in February 2025. The SEC had 45 days to decide but has now pushed the deadline twice.

Despite the delays, Polymarket traders maintain optimism with a 67% chance of Cardano ETF approval by year-end. The community views these setbacks as potential buying opportunities.

The SEC continues delaying spot crypto ETFs, recently pushing back decisions on XRP and DOGE ETFs to June 17. This pattern has cooled investor sentiment across the cryptocurrency market.

Technical Outlook and Platform Developments

Current technical analysis shows ADA faces resistance near the $0.7680 zone. The first major resistance sits at $0.7840, representing the 50% Fibonacci retracement level.

If Cardano breaks above $0.80 resistance, the price could rally toward $0.820 and potentially $0.8350. However, failure to clear $0.7680 could trigger another decline toward $0.750 support.

The hourly MACD shows gaining momentum in the bullish zone. The RSI has moved above the 50 level, indicating potential upward pressure.

Major support levels remain at $0.750 and $0.740. A break below $0.740 could open the path to test $0.7260 and the $0.70 level.

Cardano has returned to eToro’s trading platform alongside 12 other cryptocurrencies. This follows eToro’s $1.5 million settlement with the SEC, resolving issues that caused ADA’s delisting in 2021.

Analysts point to upcoming catalysts including the Midnight airdrop and the recent Leos upgrade. These developments aim to boost Cardano’s speed and scalability while integrating with Bitcoin Ordinals as a DeFi layer.

ADA currently trades at $0.754, down 0.3% in the past day, as the market awaits further regulatory clarity on ETF approvals.

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