Cardano Approaching Price of $0.99: Will ADA Exceed $1 in May 2025?

Cardano (ADA) is at $0.99 after a 12% increase over the past week, despite a slowing market. On April 24, a whale withdrew $20 million of ADA from exchanges, a positive indicator that usually accompanies price increases.

Withdrawal of $20 million of ADA left on exchanges

Current market capitalization: ~ $24.68 billion

24-hour trading volume: $540.9 million

ADA is supported above its 50-day EMA ($0.6867), and its RSI at 38 implies that buyers may push higher. Due to these technical indicators and the decreasing supply on exchanges, sustained advancement above $1 could be possible.

Updates to the Cardano protocol bolster its position beyond whale movements. Hydra, the level 2 scaling solution, has completed its first batch of transactions on the mainnet, increasing transaction speeds and positioning Cardano as a major competitor in high-frequency dApps.

Mithril, a lightweight data certification mechanism, reduces wallet synchronization times, facilitating onboarding for new users.

Cardano's DeFi is also growing. The relationship between Begin Wallet and Liqwid Labs enables stablecoin loans with up to 21% APY, providing passive income and market interest.

Boost DeFi: Begin Wallet stablecoin loans 21% APY

This layered development story strengthens Cardano's appeal beyond price speculation, laying the groundwork for a breakout above $1.

Key resistance for Cardano at $1

ADA faces a major technical obstacle despite optimistic developments. This resistance zone corresponds to a key downtrend line from February highs.