As of September 21, 2025, Cardano (ADA) is trading at $0.90, reflecting a modest 0.13% increase from its previous close. The cryptocurrency has experienced price fluctuations between $0.89 and $0.91 over the past 24 hours.
Analysts are observing a confluence of bullish technical indicators, suggesting a positive trajectory for ADA. The 50-day moving average is positioned above the 200-day moving average, a classic signal of upward momentum. Furthermore, the Relative Strength Index (RSI) stands at 54.66, indicating a neutral yet favorable market sentiment, while the Moving Average Convergence Divergence (MACD) shows bullish momentum. This technical setup points towards potential price appreciation, with a key resistance level identified at $0.95 and a potential price target of $1.02. Market sentiment appears to be strongly in favor of Cardano, with 74.65% of traders holding long positions, indicating a high level of confidence among investors.
On-chain activity on September 6 revealed that approximately $840,000 worth of ADA was withdrawn from exchanges, suggesting a preference among holders to secure their assets rather than sell them. This trend of ADA being moved off exchanges is often interpreted as a sign of long-term conviction. The growth of Cardano's decentralized finance (DeFi) ecosystem continues to be a significant driver of its market performance. The Total Value Locked (TVL) in Cardano's DeFi sector has reached $487.18 million, marking a 2.15% increase in the last 24 hours. Historically, Cardano's DeFi TVL saw substantial growth, increasing by 218.61% from early 2023 to early 2024.
While the technical indicators present a bullish case, some market participants note that ADA has been consolidating below the psychological $1 mark. Large holders, or 'whales,' have been observed gradually trimming their positions, which can create temporary selling pressure near key resistance levels. However, this whale activity is not solely negative, as it can also indicate profit-taking that may lead to healthier price corrections before further upward movement. Despite these nuances, the overall sentiment remains optimistic, with many anticipating a potential breakout above $1 if buying demand continues to outweigh selling pressure.
The upcoming SEC decision on a spot ADA ETF by October 22, with an 87% approval probability according to Polymarket data, could also serve as a significant catalyst for increased institutional investment and broader market recognition. Cardano's ecosystem is expanding, boasting 1,989 active projects in Q3 2025, with significant growth in its Plutus smart contract ecosystem. The introduction of Plutus V3 has accelerated adoption. Initiatives like the Bitcoin OS Bridge aim to integrate Bitcoin liquidity into the Cardano DeFi space. Real-world use cases, such as property tokenization in Mozambique and digital identity solutions in Ethiopia, highlight Cardano's commitment to tangible utility and long-term sustainability. This strategic focus on foundational strength and ecosystem expansion positions Cardano to navigate market fluctuations and capitalize on future growth opportunities.