Cardano Poised for Breakout? $3.10 in Sight as ADA Leaves Exchanges
The post Cardano Poised for Breakout? $3.10 in Sight as ADA Leaves Exchanges appeared on BitcoinEthereumNews.com.
Almost a billion dollars’ worth of ADA has quietly left centralized exchanges this year, a sign that investors are choosing to lock in for the long haul. Cardano’s prospects are enhanced by other aspects, such as introducing an ADA Exchange-Traded Fund (ETF). Cardano (ADA) is starting to regain the spotlight as market sentiment turns increasingly bullish. Investors are looking at the possibility of ADA revisiting its all-time high of $3.10, a level last seen in September 2021. With ADA currently trading at approximately $0.728, the cryptocurrency remains about 71% below its all-time high of $3.10 reached in September 2021. One indicator supporting this is the outflow of ADA seen from centralized exchanges. Data from CoinGlass reveals that over $932 million worth of ADA was withdrawn from exchanges in 2025 alone. This points to an increase in investors’ confidence in ADA. The trading activity across major exchanges paints a clear picture. Binance leads with the highest ADA volume at $2.19 million, followed by Bybit at $757,300. Interestingly, Bybit also tops the list for net inflows, attracting $259,750, while Binance follows with $178,300. These inflows show that fresh capital is still cautiously entering ADA markets. From a technical perspective, ADA is holding within a critical support zone between $0.68 and $0.74—a range traders are closely watching for confirmation of a price floor. The Relative Strength Index (RSI) stands at 51, reflecting balanced momentum: not overly overbought nor in accumulation territory. However, overall market participation has slowed slightly. The trading volume has dropped by 33.40% to $1.34 billion, and open interest is down 2.14% to $851.37 million. The worst decline is in the options market, where volume is down by nearly 93%, indicating a reduction in speculative trade. What is propelling the bullish outlook? As reported by CNF, Charles Hoskinson has faced allegations from Masato Alexander,…
Filed under: News - @ May 21, 2025 5:18 am