The post Will Cardano Price Respond With Rally as $20M ADA Leaves Exchanges? appeared on BitcoinEthereumNews.com.

Cardano price eyes a massive bull run amid a looming supply squeeze after more than $20M ADA tokens exited exchanges in the last seven days. Meanwhile, analysts expect that Cardano will register a 100% rally and reach $1.46 in the coming months. ADA value today stands at $0.71 with a 1.3% dip. Data from CoinMarketCap also shows that Cardano trading volumes have topped $902M highlighting high market interest. Cardano Price Eyes Rally as $20M ADA Exits Exchanges Cardano price is on the verge of a massive rally after more than $20M ADA tokens left exchanges recently. Data from Coinglass indicates that in the last seven days, traders have been moving ADA from top exchanges like Binance and OKX, which signals a lack of intent to sell. ADA Exchange Outflows As exchange withdrawals surge and reduce the supply that is available in the market, it might create a squeeze whereby a surge in demand will force the Cardano price to rally. Therefore, it is likely that this top altcoin could soar to as high as $1 in the near term. Trader Justin Qu on X has also shared a bullish Cardano price forecast, suggesting that the price of this altcoin will soon skyrocket to new multi-month highs. In his analysis, Justin stated that ADA had broken out of a descending wedge pattern on the daily timeframe, which is a classic sign of an upcoming bull run. If ADA continues to defend support at the upper trendline of this wedge pattern, it might kickstart a strong rally towards the first resistance level at $1.24. Breaking this level will then set the stage for a rally to $1.46. Cardano price chart Hence, going by the surging outflows from cryptocurrency exchanges and the bullish forecasts shared by analysts on Cardano, this altcoin is likely…

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Filed under: News - @ April 26, 2025 5:14 am