- Cardano ranks 5th in GitHub dev activity, climbing one spot in Santiment’s latest 30-day report.
- ADA is testing a key resistance at the top of a long-term descending triangle.
- RSI at 76.29 signals overbought conditions, hinting at a potential short-term pullback.
Cardano (ADA) has quietly climbed in developer engagement this month, rising one spot to claim the #5 position among top crypto projects by GitHub activity, according to on-chain analytics firm Santiment.
A ‘Quiet’ climb up the development rankings
Cardano has often been a target of criticism, but its GitHub metrics tell a different story of quiet, steady work.
In the last 30 days, it has surpassed several other major projects like Polkadot (DOT) and Kusama (KSM) in development activity. While still behind the top three (ICP, LINK, and FIL), its upward trajectory suggests that builders are increasingly active within its ecosystem.
Related: Cardano’s Bullish Structure Points to Breakout: Is $2 the Next Stop?
This could all be part of a ‘quiet’ accumulation phase ahead of a more robust performance in the third quarter, especially as Cardano prepares for protocol-level enhancements later this year.
ADA Price Analysis: Pressing Against Resistance
On the daily chart, ADA is currently testing the upper boundary of a long-standing descending triangle, a pattern that’s been in play since early 2024. At the time of writing, ADA is trading at $0.8768, a key resistance zone where many rallies have previously failed.
The RSI sits at 76.29, suggesting that a pullback is imminent, unless strong bullish volume breaks the descending resistance. On the other hand, the MACD shows a bullish crossover with momentum picking up. The MACD line is at 0.0710 over the signal line at 0.0525, indicating buyers are still in control.
The CMF is in positive territory at +0.16, suggesting capital is flowing into ADA and validating the recent price surge. Further, the BoP indicator is leaning positive but volatile, which reflects mixed short-term sentiment despite the broader bullish setup.
Related: Cardano (ADA) Price Approaches ‘Bull Market Door’: What’s Next?
If ADA can decisively break above the descending triangle’s upper boundary, the next target lies near the $1.00–$1.05 range, a level not seen since early 2024.
However, failure to breach this resistance could result in a pullback to the support zone around $0.50, where it has repeatedly found buyers.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
