Cardano Price: Tightening Structure, Whale Action Signal Big Move For ADA
Cardano ADA/USD is currently trading at $0.7288 after a slight downturn, dropping 1.38% in the last 24 hours and 11% over the past seven days, according to CoinMarketCap. It follows a decrease in trading volume of Cardano, in spite of positive investor sentiment and media commentary surrounding the cross-chain bridge.
As per Coingape, ADA volume fell from $934 million on May 16 to $620 million by May 19. Large ADA holders are capitalizing on the lower prices, reported Binance Square. According to Santiment, whales have acquired over 80 million ADA tokens within 48 hours. Large holders are anticipating a price rebound as broader market sentiment improves.
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Cardano Foundation founder, Charles Hoskinson, has publicly confirmed growing speculation about a strategic DeFi (Decentralized Finance) collaboration with Litecoin (LTC), according to Coingape.
The partnership will establish a cross-chain bridge, with a potential “Litecoin-Midnight-Cardano” integration. According to CoinMarketCap, 89% of Cardano community is bullish for the token. The Litecoin-Midnight-Cardano integration may occur in the late 2025. This may benefit Cardano prices similar to the surge during protocol upgrades like Shelley and Alonzo.
According to Coindoo, Analyst Ali Martinez has pointed out tightening of Cardano’s market structure as the next significant price movement, whether up or down, could be sharp.
TradingView data shows that after falling below the $0.80 mark, Cardano is now testing a crucial support zone around $0.74, with a key support level identified at $0.72. It aligns with important Exponential Moving Averages (EMAs) and horizontal support. The ability to hold above $0.72 is vital for a potential upswing towards $0.92.
A push above the $0.90 level could confirm a bullish breakthrough and reigniting interest from both retail and institutional investors. A break below the $0.72 support could lead to a fall to prior consolidation zones.
If ADA recovers and sustains a price above $0.80, it could invalidate recent bearish pressure and could pave the way for a push towards $0.90 and the historical barrier of $1.00. Coingape suggests that the price of Cardano can go up to $1.40 in 2025.
According to Polymarket, the chances of a Cardano spot ETF receiving approval before the end of 2025 has increased from 45% to 64% within the last two days.
Cardano’s RSI currently stands at 41.7, indicating that it has considerable room to rise before entering overbought territory.
Investors might need to closely analyse the trading volume of Cardano. A significant surge in it will mean that ADA is picking up a bullish momentum.
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