Cardano (ADA) is poised for a potential 20% price increase as it trades near $0.25, driven by a bullish divergence on the 12-hour chart and the imminent launch of the Midnight sidechain. Input Output Global confirmed the launch this week, introducing shielded transactions to the Cardano ecosystem, which could enhance its use in private DeFi and payments.
Whale activity supports this bullish outlook, with large holders accumulating over 80 million ADA since March 18. This accumulation coincides with a significant drop in the percentage of ADA supply in profit, reducing sell pressure. The key price levels to watch are $0.248 as support and $0.267 as the first resistance, with a potential rally to $0.295 if momentum continues.
