Cardano Price Prediction: Whales Take ADA Off Exchanges – A 500% Supply Squeeze Rally is Starting

Investors have pulled $170 million worth of ADA from exchanges over the past week – a move that supports a bullish Cardano price prediction, with some analysts eyeing potential gains of up to 500%.

The update came from Cardanians, a community-run X account, who reported that most of the withdrawals came from Coinbase, Upbit, and Binance – a strong signal that buyers are preparing to hold long-term rather than sell.

MARKET: Over $170M worth of Cardano $ADA has been withdrawn in the past 7 days from centralized exchanges like Upbit, Binance or Coinbase.

That usually signals holders are moving their coins into self-custody. pic.twitter.com/ubDKw024Zr

Exchange withdrawals are bullish as they reduce the circulating supply. This $170 million net outflow accounts for 0.5%. If the trend continues, a supply squeeze could provide the necessary catalyst for Cardano’s next leg up.

So far this year, ADA has underperformed compared to top altcoins like Ethereum (ETH) and BNB Coin (BNB) – both of which recently hit new all-time highs.

But with altcoin season now kicking off, the stage is set for a bullish Cardano price prediction, as ADA has plenty of room to catch up and potentially revisit its all-time high of $3.10 – and push even higher.

Cardano briefly touched the $1 resistance level this week before pulling back – a healthy correction, likely driven by early investors taking profits and preparing to re-enter at lower levels.

Macro conditions are also turning favorable.

The Federal Reserve has confirmed that it will begin cutting interest rates as planned, with most analysts surveyed by FedWatch expecting a 25 basis point reduction during the September FOMC meeting.

All signs point to a bullish environment for ADA in the coming months.

ADA could further drop to $0.75, where it will find strong support as this level shows confluence between the 200-day exponential moving average (EMA) and a key trend line.

If the price bounces strongly off this mark, it could trigger a big rally with a first target set at $1.30 and then $4.5. This would result in a 508% upside potential for $ADA in the near term.

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