Cardano Price AnalysisCardano Price Settles at Key LevelCardano, ADA, has been trading at $0.4185, a level not seen since last November. It has, therefore, dropped to a key support level, and the traders are awaiting the imminent Midnight mainnet launch.
Midnight Launch The mainnet launch of Midnight is pegged to go live come Monday. Bybit, Gate, and OKX are prominent exchanges that have confirmed listing the NIGHT token. This launch may create extra utility for Cardano and, therefore, a boost in the total value locked.
Technical Analysis ADA has also furthered declines on the weekly chart, breaking below pivotal supports. The next level of support could be at $0.2760 if the price keeps sliding downward. On the other hand, the bears' predictions could be proved wrong once the price moves above $0.5113.
Outlook The future for Cardano's price is not certain, as some analysts question the value that the Midnight project brings to the Cardano ecosystem.
ADA
0.4379
+1.57%
