Cardano Shows Signs of Gradual Accumulation Near Key Support Amid Rising Whale Activity

Key Points

1. Cardano's current price behavior resembles its 2019–2020 cycle, with slow accumulation near the 0.382 Fibonacci retracement level at approximately $0.623.

2. Technical analysis indicates that maintaining support above $0.62 and breaking the $0.90 resistance could trigger a rally toward $1.15 and $1.74, with long-term potential reaching $6.25.

3. On-chain data shows rising whale wallet accumulation during ADA's consolidation phase, with the token resting on its 1-day 200EMA, a critical level for sustaining momentum.

4. The Cardano Foundation approved all 39 governance proposals, unlocking 275 million ADA for community and ecosystem development.

5. Historical patterns suggest Cardano's extended base-building phase may precede significant upward momentum, with whale activity and governance developments supporting bullish sentiment.