The post Cardano Price Analysis: ADA Flashes Bullish Reversal as Midnight Launch Nears appeared first on Coinpedia Fintech News
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.
Cardano ADA Chart Hint at Bullish Reversal
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.Â
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.Â
Similarly, the MACD histogram has turned positive, indicating that momentum is shifting in favor of bulls.
Cardano: Key Level To Watch
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.
Midnight Launch Adds Fuel to the Setup
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.
