ADA price rose 10% following a breakout above a multi-week descending resistance line, coinciding with the successful launch of the Cardano Midnight network.
By Bhushan Akolkar
Editor Hamza Tariq
Updated
2 mins read
Cardano’s native cryptocurrency ADA ADA $0.46 24h volatility: 3.5% Market cap: $16.96 B Vol. 24h: $1.44 B has been dominating the broader crypto market rally.
The ADA price is up 10% in the last 24 hours and is currently trading at $0.47. Founder Charles Hoskinson also praised the Cardano Midnight launch, the blockchain’s zero-knowledge privacy network.
Today’s 10% upside in Cardano price comes along with a 150% surge in daily trading volume, to $1.58 billion. This shows that the trader sentiment remains bullish for the rally to continue ahead.
Popular crypto market analyst Captain Faibik has confirmed that ADA price has staged a strong breakout from the descending resistance line. This breakout comes amid strong accumulation in the $0.41-$0.43 range, thereby signaling continued buying interest.
$ADA #Cardano Major trendline Breakout is Confirmed.. ✅
+10% Profit so far in Few hours..🔥 https://t.co/m9qA13uobk pic.twitter.com/hAqoDo0szT
— Captain Faibik 🐺 (@CryptoFaibik) December 9, 2025
As per Captain Faibik’s analysis, the breakout from the descending trend line could unlock another 56% upside from the current levels, to $0.67. This strong breakout from the multi-week resistance has boosted the chances of the ADA price recovery.
Cardano’s 4-hour chart is also displaying a bullish inverse head-and-shoulders formation. Momentum indicators reinforce the constructive outlook.
The MACD line has crossed above the signal line, offering strength for the upward momentum to continue.
A confirmed breakout above the neckline would activate the pattern, with initial upside targets at $0.48 and $0.52, the levels that align with Faibik’s broader bullish projections.
Cardano showing an inverse head and shoulder pattern. | Source: TradingView
The recent contribution of a 70 million ADA treasury allocation by Cardano core contributors could further aid the ADA price rally from here.
Cardano founder Charles Hoskinson recently praised the Midnight launch, a zero-knowledge privacy network that has reached 1 million mining addresses. Midnight, a privacy-focused Cardano sidechain designed to balance confidentiality with regulatory compliance, officially launched on December 9.
Following the rollout, Charles Hoskinson described the event as the most significant milestone in Cardano’s history.
Congratulations Midnight https://t.co/MsdgiQyCoW
— Charles Hoskinson (@IOHK_Charles) December 9, 2025
Midnight’s native token, NIGHT, began trading on Tuesday, on several major exchanges, including OKX, Bybit, Kraken, and KuCoin.
As of press time, the NIGHT token is up 97%, trading at $0.06286, with daily trading volumes surging by more than 700%.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
