Cardano Foundation Approves 39 Treasury Withdrawal Actions for 275M ADA

Cardano's price may experience short-term volatility but indications suggest a potential bullish trend is developing.

On July 31, the Cardano Foundation confirmed approval of 39 Treasury Withdrawal governance actions, totaling 275 million ADA.
Proposals focus on infrastructure, research, community growth, and the 2025 Vision, evaluated for transparency and accountability under the Cardano Constitution.
Funds will be distributed via automated smart contracts, with a unified rationale published explaining verification methodology.
Analyst Ali Martinez noted ADA's current chart structure resembles that preceding the 2021 bull run, suggesting a possible start of an uptrend.
As of now, ADA trades near $0.72, down 8% amid broader market weaknesses but showing signs of a healthy retracement.
Recent movement above a multi-month falling wedge indicates a potential trend reversal.
A bounce from the lower Bollinger Band near $0.70 could lead to upward movements towards $0.80 and $0.90 resistance levels.
RSI has cooled off from overbought levels, indicating a reset before a possible price rally.
MACD shows a bearish crossover but remains above zero, suggesting the broader trend stays intact unless further declines occur.

ADA daily price chart with falling wedge | Source: Trading View

ADA daily price chart with RSI and Bollinger Bands | Source: Trading View

ADA daily price chart with MACD | Source: Trading View