 tests Falling Wedge breakout near $0.77 as Glacier Drop airdrop nears; bullish trend holds above $0.75 with targets up){kind=link}
Key Insights:
- ADA is testing the upper resistance of a Falling Wedge, signaling a potential bullish breakout.
- Cardano will airdrop Midnight tokens to 37M wallets across 8 blockchains in the Glacier Drop.
- ADA price holds above $0.7 support with bullish indicators targeting $0.88 and beyond.
Cardano (ADA) is reporting renewed momentum presently, with traders keeping their eyes on a possible breakout from the Bullish Falling Wedge construct. At the same time, the large-scale cross-chain token distribution, called the Glacier Drop, is attracting attention in the crypto space.
The cumulative impact made by technical patterns and ecosystem developments is pushing the Cardano price prediction in a conducive direction towards a 2025 rally.
ADA price is currently at around $0.7 and has so far held up above important support levels as it has formed higher lows in the last few weeks. The sentiment in the market is slowly changing, with increased anticipation that the altcoin may jump up sharply if proven breakout signals hold.
Cardano Price Gears Up for 35% Rally
According to, ADA price is testing the upper boundary of a Falling Wedge pattern on the 6-hour chart—a structure often seen before bullish reversals. This wedge has been forming over several weeks, characterized by lower highs and lower lows converging within a narrowing range.
Cardano price is positioned at the top of this formation, where the altcoin action is testing the descending resistance line. The price is also interacting with the 100-period moving average, a key technical level on the chart.
A confirmed breakout above this area, especially on high volume, would strengthen the Cardano price prediction bullish case. If ADA clears this zone, the next resistance lies between $0.48 and $0.50. A move to this level could represent a gain of up to 35%, as suggested by low resistance overhead, visible on the Volume Profile indicator.
Simultaneously, Cardano’s upcoming token airdrop is attracting interest across the crypto market. The Glacier Drop will distribute tokens from the Midnight sidechain to 37 million wallets across eight blockchains.
This wide-reaching event introduces new participants to Cardano’s ecosystem, supporting increased network activity and adoption.
The airdrop includes governance and transaction tokens (NIGHT and DUST), enhancing utility across chains including Ethereum, Solana, and Bitcoin.
Key Support Levels Hold Firm as Momentum Builds
Cardano price prediction has maintained strength above its local support at the $0.7480 level, corresponding to the 20-day exponential moving average (EMA). This area has repeatedly acted as a support zone, preventing deeper declines during pullbacks. Buyers have stepped in at each retest, creating a pattern of higher lows that indicates increasing buying interest.
The Relative Strength Index (RSI) is currently above 50, moving within the bullish terrain with room for more gains before getting into the overbought level. At the same time, a moderate bullish crossover can be seen in the MACD indicator as the MACD line crosses above the signal line.
Further confirmation of a breakout would come from a strong bullish candle above the wedge resistance, ideally backed by expanding trading volume.
Fibonacci Targets and Broader Ecosystem Developments
Additionally, potential price targets were plotted at various levels by the Fibonacci extension tool following the previous price movement. The first major level is at $0.8849 (1.618 extension), $1.0373 (2.618), $1.1897 (3.618), $1.2838 (4.236). These projections coincide with previous supply zones traded, and if the breakout picks up the momentum, these become resistance levels.
Beyond the technical analysis, ecosystem updates still dictate the expectations of the market. During the latest Consensus 2025 conference, Charles Hoskinson, founder of Cardano, shared Glacier Drop — a move towards wider interoperability. Midnight, the privacy-oriented sidechain, behind the airdrop, helps decentralized apps run using native tokens across chains to facilitate cooperation between developers across ecosystems.
Attention has also gone to the Glacier Drop’s VC-free model. This venture is not open to early venture capital participants but rather retail-driven distribution, indicating a change in approach from the usual project launches. The strategy might promote long-term user engagement and hence longevity in activity on the Cardano network.
Support at $0.37 is still the main bearish invalidation point for traders, as it has been retested on several occasions and is still attracting buyers. At the same time, Cardano price has rallied 7.01% in the last 7 days to $0.7723.
Despite a 5.86% decline in market cap and a 24.81% drop in 24-hour volume, ADA kept the bullish trend above the $0.75 support level.