Cardano (ADA) has been gaining momentum in the last week of trading, as seen both in the 10.18% price rise to $0.1904, and in the 380% surge in futures volume from $150 million to $650 million.
Still, the cryptocurrency appears to be facing both a risk and an opportunity near $0.20 to break out in either direction, as it is $0.020 away from its nearest support at $0.1884 and only a slightly larger $0.063 away from its next resistance at $ 0.1967.
Additionally, though ADA’s latest move appears to indicate either a break below or a bounce off of the nearest support, the digital asset has two potential bullish catalysts within the next three days.
Why Cardano price can soar this week
Specifically, the U.S. Congress has two days left to schedule the hoped-for vote on the CLARITY Act – a piece of legislation set to resolve the legal tensions and uncertainties the cryptocurrency industry is facing in the United States.
Notably, multiple analysts agree that the framework – if passed – can help digital assets recover some of their 2026 losses in the short term and, after likely subsequent selling pressure, soar well above the previous recorded highs.
However, cryptocurrency traders have been disappointed by Congress so far this week, and there is precious little time left ahead of the long recess that is to start after the August 7 session.
Should you buy Cardano ahead of August 9?
Elsewhere, even without the CLARITY Act passing, Cardano could enjoy significant tailwinds as soon as August 9, as its 75-day seasoning period of regulated futures trading on the Chicago Mercantile Exchange ends.
Once the milestone is hit, the cryptocurrency will become eligible for a spot exchange-traded fund (ETF) launch, joining the ranks of some of its bigger peers like Bitcoin (BTC) and XRP.
Nonetheless, recent performance across digital assets also indicates that, though a Cardano rally upon an announcement of an ETF is likely, the long-term impact could prove smaller than investors might hope.
Is the ongoing crypto ‘ghost town’ bullish for Cardano?
Excluding potential external tailwinds, some analysts have taken the recent decrease in activity and online discussion regarding digital assets as a positive sign.
For example, cryptocurrency trading expert Michaël van de Poppe published an X post on August 6 in which he opined that the landscape turning into ‘a complete ghosttown isn’t bad’
Indeed, he argued that the calm represents ‘a tremendous opportunity to accumulate,’ and pointed out that the previous bear market saw Bitcoin stuck close to $16,000 while the current one has BTC consistently above $60,000.
Under the thesis, Cardano’s own calm and reported substantial ‘whale’ accumulation – wealthy investors now control an estimated 67.5% of supply – indicates that volatility and selling pressure will diminish and remove upward resistance as retail accumulates.
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