Overview
- ADA rebounded off the $0.50 support and is holding near $0.52–$0.55 after weeks of decline.
- Midnight, Cardano’s privacy sidechain, reports roughly 1,000,000 mining addresses and over 200,000 direct NIGHT claims following the Glacier Drop.
- Price action remains technically bearish beneath a descending trendline with major EMAs overhead, with traders watching $0.56–$0.62 for early confirmation of a trend shift.
- Coinglass data show persistent net transfers to exchanges through late October and early November, while futures open interest rose to about $655–$657 million, indicating elevated volatility risk.
- Analysts note large wallets sold more than 4 million ADA in the past week, highlighting continued selling pressure despite the recent bounce.