Cardano (ADA) Price: ADA Surges 31% From 2020 Lows — Can It Keep Running?

TLDR

• ADA surged over 31% last week, touching $0.199 on July 5 before pulling back to around $0.188
• Open Interest hit $515 million on Sunday, the highest since late May
• 14,783 new non-empty wallets were added since Cardano’s June 23 bottom, per Santiment
• Funding rates turned positive, but the long-to-short ratio sits at 0.68, showing mixed sentiment
• Governance uncertainty continues as founder Charles Hoskinson launched a DAO review process

Cardano (ADA) is trading around $0.188 on Monday, giving back some gains after a strong weekly rally. The token surged more than 31% over the past seven days, touching $0.199 on July 5.

ADA hit a multiyear low near $0.14 in late June, a level not seen since 2020. The bounce since then has been sharp, but the token still faces several overhead resistance levels before any sustained recovery.

Analyst BATMAN (@CryptosBatman) pointed out that ADA broke out of a descending channel it had been stuck in for months, reclaiming the 200 EMA in the process. He noted a textbook bullish RSI divergence that signaled seller exhaustion before the move, with the 200 EMA now acting as dynamic support. He added: “As long as ADA holds above it, the path of least resistance remains up.”

Santiment data tracked 14,783 new non-empty ADA wallets since the June 23 low. That wallet growth points to fresh retail participation returning after weeks of heavy selling pressure.

Whale accumulation data showed large holders were already adding ADA even as network activity slowed. That pattern suggests some investors positioned ahead of expected protocol upgrades.

Derivatives Paint a Mixed Picture

Open Interest in ADA futures climbed to $515 million on Sunday, the highest level since the end of May, before settling around $472 million Monday. That rise reflects growing trader participation.

Funding rates also flipped positive last week. CoinGlass data shows ADA’s OI-Weighted Funding Rate reached 0.0080% Monday, meaning longs are paying shorts — a sign of bullish positioning.

The long-to-short ratio tells a different story. At 0.68 on Monday, it sits near its lowest point in over a month. A reading below one means more traders are betting on the price falling.

Technical Levels to Watch

ADA has reclaimed the 50-day EMA at $0.186, which now acts as immediate support. The RSI sits near 61 and the MACD is in positive territory.

First resistance sits at the 38.2% Fibonacci level of $0.195. Above that, a cluster around $0.213–$0.219 includes the 50% retracement, the 100-day EMA, and a descending trendline break level.

ADA still trades well below the 100-day EMA at $0.218 and the 200-day EMA at $0.289.

On the governance side, Hoskinson recently launched an audit of thousands of decentralized organizations tied to Cardano’s treasury system. That review follows a cancelled 2026 summit and ongoing funding disputes.

Cardano’s Leios scalability upgrade is still on track, with a mainnet push planned for later this year.

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