Cardano Trades at $0.7112 as Price Action Mirrors Its 2019–2020 Accumulation Phase

ADA mirrors its 2019–2020 cycle with slow accumulation near key Fibonacci and EMA levels.

Whale activity rises as ADA holds $0.70 support, signaling growing confidence during consolidation.

Cardano governance approved 39 proposals, unlocking 275M ADA for community-led ecosystem growth.

Cardano (ADA) is displaying a price structure similar to its previous cycle, but with a slower build-up this time. Analysts believe this pattern could be signaling the early phase of a potential long-term rally. At the time of writing, ADA was trading at $0.7112, hovering near major support levels.

Gradual Cycle Mirrors 2019–2020 Structure

According to an analysis prepared by Ali Martinez, Cardano’s current behavior resembles the 2019–2020 period that led to a sharp rally. The token is positioned near the 0.382 Fibonacci level around $0.623 and is approaching resistance in the $0.85–$0.90 zone

Martinez explained that ADA is showing signs of a slow accumulation phase below resistance, much like it did before previous upward moves. If ADA stays above $0.62 and clears $0.90, technical projections point toward possible medium-term targets at $1.15 and $1.74

He also noted that the full extension of this structure could lead ADA toward $6.25, though such a move would likely develop over months rather than days. Cardano's long drawdowns have historically preceded major rallies.

On-Chain Activity and Key Support Levels Strengthen Outlook

Cardano has seen increasing on-chain participation, with whale wallets accumulating during the recent price consolidation. According to an observation by Hailey LUNC, ADA is now resting on its 1D 200EMA. She mentioned that holding the $0.70–$0.60 range is essential, and closing above the 200EMA may trigger a move toward $0.90–$1.00.

Source: HaileyLUNC(X)

Meanwhile, the Cardano Foundation confirmed the constitutional approval of all 39 governance proposals, allocating 275 million ADA toward community and ecosystem growth. The distribution will be managed through automated smart contracts.

Market sentiment remains cautiously optimistic. Glassnode data confirms ADA’s historical tendency for long base-building periods before breakouts. Analysts are monitoring key levels closely, as ADA’s quiet structure may be preparing for another phase of expansion.

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