Historic Treasury Approval Boosts Market Sentiment
Cardano’s community has just approved its largest treasury funding proposal to date, marking a pivotal moment in the network’s evolution. With over $9 million green-lit for developer grants, smart contract audits, and ecosystem incentives, ADA investors are growing increasingly optimistic. This on-chain governance victory underscores Cardano’s commitment to decentralization and sustainable growth, giving bulls a fresh catalyst as the asset consolidates above the $0.95 support zone.
Technical Pattern Echoes Past Bull Runs
On the charts, ADA is mirroring the consolidation and breakout trajectory seen in late 2020 and mid-2021. After trading sideways for several weeks, ADA formed a symmetrical triangle—which historically has led to upward thrusts in this market phase. A decisive break above the $1.05 upper trendline could confirm this pattern, unleashing momentum that may carry prices toward the $1.30 target.
Key Resistance and Fibonacci Targets
The first hurdle sits at $1.05, followed by the 1.618 Fibonacci extension near $1.15. Above that, the July 2021 swing high around $1.20 warrants attention. If bulls can flip these zones into support, the next focus shifts to $1.30, where profit-taking has historically emerged. On the indicators front, MACD is on the verge of a bullish crossover, while RSI hovers around 60, signaling room for further upside before reaching overbought territory.
Community and Developer Activity Remains Strong
Beyond price action, daily active addresses and transaction volume on the Cardano blockchain have risen steadily this month. New dApps launch announcements, plus growing interest in Layer-2 solutions, contribute to a healthier on-chain environment. Such fundamentals strengthen the narrative that ADA’s price rally isn’t purely speculative but backed by tangible network growth.
As Cardano continues to deliver on governance proposals and technical upgrades, the $1.30 milestone looks increasingly attainable. Traders should watch for sustained support above $1.05 and monitor on-chain metrics for confirmation of the next leg higher.