Currently, ADA is trading at $0.7443 and remains above its most important exponential moving averages: the EMA-20 around $0.75, the EMA-50 near $0.70, and the EMA-100 slightly below this level.
This technical alignment is usually interpreted as a recovery phase, although the margin for downward movements remains if the market fails to sustain the momentum.
The chart analysis reveals the formation of a symmetrical triangle on weekly timeframes, placing ADA at a critical point. A solid breakout above $0.83-$0.85 would open the way towards more ambitious targets, such as $0.90 and even the $1 threshold, which serves as an important psychological resistance.
Conversely, a close below $0.70 would reinforce the bearish scenario, with potential pullbacks towards $0.66 or $0.60, especially if selling pressure increases.
Beyond the technical setup, Cardano governance reached a historic milestone. The community approved a fund of 96 million ADA to boost blockchain development, marking the first time an official vote supports funding of this kind.
"The Cardano Community has officially voted in favor of the IOE funding proposal (with 73.93% of the votes), marking a significant milestone on the path towards community-led delivery and the long-term advancement of the protocol," revealed Input Output over the weekend.