The price of Cardano (ADA) has increased by 6% and is currently trading around $0.75 after testing its key support level last week. Grayscale, a crypto asset manager, has filed for a Cardano exchange-traded fund (ETF) with the New York Stock Exchange, indicating a positive sign for ADA. The filing of an ETF can make it easier for traditional investors to gain exposure to ADA and increase liquidity. On the technical side, if ADA breaks and closes above its weekly resistance at $0.74, it could potentially retest its high of $0.98. The Relative Strength Index (RSI) suggests a mild rise in bullish momentum, but it needs to trade above 50 for sustained momentum. Additionally, the OI-Weighted Funding Rate data shows a positive rate, indicating bullish sentiment and potential upward pressure on Cardano's price.



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