Key takeaways
Is Cardano’s ADA nearing a rebound zone?
ADA wallets are down 19.7%, pushing the token into an extreme buy zone.
When will Midnight’s NIGHT token officially launch?
NIGHT will go live on the 8th of December.
Cardano [ADA] keeps getting knocked down, only to claw its way back up.
A long-awaited token launch is finally locked in, even as ADA holders face some of the toughest returns of the season. What could happen next?
NIGHT gets an official launch date
Cardano founder Charles Hoskinson has finally confirmed when Midnight’s native token, NIGHT, will go live: the 8th of December.
On that day, the team will distribute the token and exchanges will open trading and support at the same time.
The announcement came during Hoskinson’s keynote at The Midnight Summit.
Source: X
Midnight has become one of Cardano’s most closely watched initiatives, due to its focus on privacy-friendly smart contracts and secure data sharing.
As part of his address, Hoskinson stressed that privacy will be a core requirement for future blockchain use.
This stance will likely push Midnight to become a bridge between social blockchains, real-world applications, and even potential cross-ecosystem collaboration.
ADA slips into an extreme buy zone
While Midnight prepares for its token launch, ADA is sitting at one of its weakest levels in months.
Santiment data shows that wallets active in the last 30 days are down 19.7%, putting Cardano deep in the “extreme buy zone.”
The chart shows ADA falling harder than most major assets, even though Chainlink [LINK], Ethereum [ETH], and Ripple’s XRP [XRP] also have double-digit losses.
Source: Santiment
Bitcoin [BTC] is down too, but it’s still holding in the milder “good buy zone.” With trader losses hitting major extremes, ADA is now at a level where past cycles often started to recover.
ADA looks weak
The token was trading around $0.46 at press time, after a steady string of red candles. All major EMAs were far above the current price, showing a clearly bearish trend.
Source: TradingView
The RSI meant ADA was close to oversold territory, while the MACD was in negative territory with no signs of a reversal at the time of writing.
Even though buyers stepped in briefly with a volume uptick, momentum remained weak overall. For now, ADA needs stronger demand before any meaningful recovery can happen.
Source: https://ambcrypto.com/cardano-in-an-extreme-buy-zone-as-night-prepares-to-launch-whats-next/
