Cardano (ADA) price demonstrates positive dynamics thanks to technical patterns and improvements in market metrics.
EMA Structure Indicates Healthy Support
Currently, Cardano price sits at $0.7283, up 0.37% intraday, with a trading volume of $866.11 million. Early August saw ADA take support from its 200-day EMA, and it now moves within the 20-day and 50-day EMA bands, indicating consolidation before a potential breakout.
Ascending Channel Shapes ADA's Near-Term Trajectory
A clear 7-month falling wedge pattern emerges on the ADA price chart. July served as a breakout month, while the pullback in late July to early August appears to be a strategic reload phase. July's rally from $0.55 to $0.92 also ended up as a liquidation grab towards the upper channel boundary, while the current pullback has brought the price to the lower boundary of the ascending channel, indicating a strong reaccumulation zone.
On-Chain Data Confirms Long-Term Outlook
On-chain data from Santiment shows a unique trend: while addresses holding 1M–100M ADA are declining, larger whales (100M–1B ADA) are absorbing the selloff. This indicates confident accumulation by smart money. Additionally, ADA network activity has spiked across all active address metrics (1H, 24H, 7D), suggesting growing retail involvement.
In the current context, Cardano price shows signs of potential growth from a technical analysis and on-chain data perspective. However, further price movements will depend on favorable breakout conditions with increased trading volume.
