Cardano (ADA) shows bullish reversal after breakout/retest; Midnight sidechain token launching Dec 8 with a 37M-wallet airdrop — 70M ADA governance budget wins record-fast approval
first published 2025-11-29T11:20:39Z
After a ~35% one-month drop, ADA completed a breakout and retest of a long descending channel on the 3-day chart, reclaiming support near $0.42. RSI shows bullish divergence and MACD histogram turned positive. Analysts say holding $0.38–$0.40 and a breakout above $0.48 could target $0.65–$0.75 (around $0.72) by year-end. ADA trades near $0.415 (market cap ~$14.91B). The Midnight privacy sidechain token launches Dec 8 with an airdrop to over 37 million wallets, an event analysts expect may boost ecosystem activity and price.
AI Analysis
Technical indicators on the 3-day chart show a breakout/retest of a descending channel, RSI bullish divergence, and a positive MACD histogram; analysts provide concrete support ($0.38–$0.40), a breakout trigger ($0.48) and target range ($0.65–$0.75). The upcoming Midnight token launch and airdrop to 37M+ wallets (Dec 8) could increase Cardano ecosystem activity. Current price and market cap cited: $0.415 and ~$14.91B.
Impact: Significant
Sentiment: Bullish
