The Cardano ecosystem is experiencing a moment of "creative tension" that has everyone keeping one eye on the chart and the other on the wallet! 🎄🕯️ While many were expecting a quiet holiday rally, Charles Hoskinson dropped a bomb called Midnight (NIGHT) that is moving more volume than a market on a Saturday morning, leaving our dear ADA in a rather tight technical position.
The real news is that NIGHT, the new privacy token from the house, has recorded trading volumes exceeding $1.5 billion, almost double what ADA moves! 😱 This has created a "suction" effect of liquidity; the money is going to the novelty, and that has pushed ADA's price below $0.35 for the first time in over a year. Charles insists that Midnight is to expand the ecosystem, not to replace it, but the market is emotional and right now it is in love with the new toy. 🏎️💨
To have a green Christmas, ADA's task is clear: it needs to break and hold above the resistance of $0.36. If it manages to conquer that level, the next "boss" is at $0.38, where it already bounced down twice last week. 📉 If there is not enough strength to rise, prepare yourselves, because the support at $0.30 is the safety net we have left before things really get cold.
The positive: The RSI (which measures whether something is overbought or oversold) is around 40 points. We are not in panic zone yet, which means there is "gasoline" in the tank for a possible bounce if the bulls decide to wake up before the midnight bells ring. 🐂✨
Are we witnessing the birth of a new era where Cardano becomes a multi-chain giant, or will the shine of Midnight end up eclipsing its own parent coin?\u003cc-55/\u003e
