Cardano (ADA) has seen strong growth in May, rising 16% over the past month. Now trading at approximately $0.72, analysts anticipate it could reach $1 for the first time since March 2025. Following a market downturn in late March through April, the crypto market is recovering. Bitcoin has surged past $105,000, with its momentum boosting other leading cryptocurrencies like ADA.
A recent transfer of nearly 70 million ADA from Coinbase to an unknown wallet has sparked speculation about a potential whale move. Large-scale activity by crypto whales often signals a possible price rally, particularly when it involves accumulation. This significant withdrawal of ADA suggests strong investor interest in the altcoin, which could lead to a surge in value ahead of the summer.
The increasing ADA RSI suggests a possible short-term pullback, which could lead to a correction if ADA approaches the $0.85-$0.90 range soon. However, this dip is likely to be temporary, as the favorable market conditions are driving cryptocurrencies upward during this altcoin season. Cardano (ADA) may gain the momentum needed to reclaim its position above $1.
How Cardano ADA Can Reach the $1 Milestone
For Cardano (ADA) to reach $1 again, increased whale activity could play a crucial role in driving up its price. If the recent whale accumulation is only the beginning and more large investors start buying ADA, its value could see significant growth.
On Monday, trading volume jumped over 23% to $1.06B, and there’s potential for further growth this weekend. If trading volume continues to rise and whales contribute to the momentum, a price surge could be on the horizon.
Moreover, our analysts have identified $0.84 as a key resistance level for ADA to surpass on its path toward $1. According to our expert’s technical and price analysis, ADA could potentially reach $1 by June 2025.
Earlier this week, a market watcher on X, named Henry, suggested that ADA might be among the cryptocurrencies to thrive this year. Henry predicted gains up to $3, close to ADA’s all-time high of $3.10.
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Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
