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Cardano Price Prediction for May 21: Can Cardano Reclaim $1?

Irene Mukiri by Irene Mukiri
May 20, 2025
in Binance Feed, Market, News, Price Analysis
Reading Time: 4 mins read
Cardano price prediction for May 21 Can Cardano Reclaim $1
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  • Nearly $1B in ADA exits exchanges, echoing 2021’s bullish accumulation signals
  • ADA faces strong resistance at $0.80–$0.85 despite large-scale accumulation trends
  • Indicators show neutral momentum as traders await a breakout or deeper correction

Cardano (ADA) is drawing renewed attention as nearly $1 billion worth of the asset has flowed out of centralized exchanges since early 2025. According to TapTools data, this substantial withdrawal totaling around $932 million evokes memories of ADA’s rally in 2021, when a similar trend preceded its surge to an all-time high of $3.10. While this metric hints at growing investor confidence, recent price action suggests that bullish momentum remains fragile. 

BREAKING:

Nearly $1 billion worth of Cardano $ADA ($932M) has been withdrawn from centralized exchanges since the beginning of 2025.

The last time outflows approached this magnitude was in 2021, during ADA’s climb to its $3.10 all-time high. pic.twitter.com/YoL7baTr7u

— TapTools (@TapTools) May 19, 2025

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As of May 20, ADA trades at $0.7339, reflecting a mild daily gain but a 7% weekly drop. The market is now watching closely to see if reduced exchange supply translates into upward pressure on the price.

Strong Accumulation Hints at Long-Term Bullish Sentiment

Significantly, large-scale outflows typically indicate long-term holders moving assets to cold storage. This reduces the circulating supply on trading platforms and can create supply-side pressure during demand spikes. 

In Cardano’s case, the magnitude of this movement implies rising investor conviction. The last time such behavior was observed, ADA embarked on a major bull run. However, current trading patterns suggest the rally may take time to materialize.

Source: Coinglass

ADA’s recent trading activity shows that leveraged traders are heavily involved. Data reveals frequent liquidations both long and short between $0.60 and $0.90. These spikes in liquidations reflect volatile sentiment and rapid position unwinding. 

The most significant short squeeze occurred in early March, following a sharp drop in price. This pattern reveals that speculators are struggling to predict ADA’s short-term direction.

Key Levels and Indicators Suggest a Crucial Juncture

Technically, ADA remains below major resistance around $0.80–$0.85, a zone that has rejected price advances multiple times in 2024 and 2025. A move above this area could open the path toward the psychological $1.00 mark and beyond. 

On the downside, the $0.60–$0.62 range now serves as critical support after being flipped from resistance earlier this year. Historical floors around $0.45 and $0.30 could also offer support if the price breaks lower.

ADA/USD daily price chart, Source: TradingView

Meanwhile, indicators point to indecision. The MACD reveals a bearish crossover, suggesting weakening momentum. The RSI stands at 49.56, sitting in a neutral zone. This setup means ADA could go in either direction depending on broader market trends.

Tags: Cardano (ADA) NewsPrice Analysis

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