Cardano’s native token ADA has been under pressure for weeks, dropping nearly 35% in just one month. But behind this bearish period, a rare bullish setup has emerged on the 3-day timeframe, which is expected to hit ADA $0.72.
Adding to this is the major network launch of the Midnight (Night) token just 9 days away, which experts believe will help push the ADA price up.
Looking at the 3-day chart, ADA recently completed a clean breakout from its long, multi-month descending channel. This chart pattern has kept the price trapped between roughly $0.35 and $0.50 for most of the year.
Even more importantly, the price has successfully retested and reclaimed the lower trendline near $0.42 as fresh support, a key signal that sellers are losing control and buyers are stepping back in.
This steady shift is backed by improving indicators, like the RSI, which has bounced from oversold territory and now sits near 44, forming a bullish divergence.
Similarly, the MACD histogram has turned positive, indicating that momentum is shifting in favor of bulls.
Analysts expect ADA to revisit the upper channel area by the end of the year, especially as high-timeframe indicators reset and momentum returns.
With support holding between $0.38 and $0.40, analysts believe a breakout above $0.48 could trigger a quick move toward $0.65–$0.75, which aligns with the upper channel boundary.
For now, ADA is trading near $0.415, down about 4% in the last 24 hours, bringing its market cap to approximately $14.91 billion.
The timing of this chart setup is exciting because Cardano’s long-awaited privacy-focused sidechain, Midnight (Night) token, is officially launching on December 8th.
Several research outlets report that the Midnight airdrop has already reached more than 37 million wallets, boosting activity and interest around the Cardano ecosystem.
Analysts believe this upgrade could improve Cardano’s position in the smart-contract market, especially when competing with networks like Ethereum and Polkadot.
Yes. ADA recently broke above a long descending channel and reclaimed support, suggesting buyers are gaining control and momentum is improving.
The Midnight launch may boost network activity and demand, which often supports price strength when paired with improving technical signals.
Growing anticipation for the Midnight token, increasing wallet activity, and strengthening technical charts are drawing users back to Cardano.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
In times when the Bitcoin price volatility is at its peak, some altcoins like XRP…
The Bitcoin price has been experiencing significant price fluctuations since the start of the month,…
ChangeNOW, a crypto management platform with an expanding range of products, announced that it is…
The crypto market experienced another turbulence on November 21, when $2 billion worth of leverage…
As Bitcoin continues to consolidate and major altcoins focus on defending key support levels, traders…
The U.S. Senate has confirmed Michael Selig as the new chairman of the Commodity Futures…
