Cardano’s Comeback? Coinbase Launches Wrapped ADA on Base

While ADA has struggled recently, dropping 24% monthly, new developments suggest a potential trend reversal may be brewing. Here’s what could power Cardano’s comeback.

1. Coinbase Brings ADA to Ethereum Ecosystem

• cbADA launched on Coinbase’s Base network
• 1:1 backed by real ADA in custody (proof-of-reserves)
• Enables ADA use on Uniswap, PancakeSwap, Aerodrome
• Bridges Cardano to Ethereum’s DeFi ecosystem

2. Midnight’s Glacier Drop Airdrop Coming

• Cardano’s privacy-focused sidechain prepping NIGHT token
• Airdrop requires Cardano network interaction
• Could drive short-term activity surge
• NIGHT trading may bring new liquidity to ecosystem

3. Technical Setup Shows Rebound Potential

• RSI at 36 (nearing oversold, starting to rise)
• Bollinger Bands narrowing (volatility squeeze)
• Key resistance: $0.60-$0.62 (break could target $0.70)
• Critical support: $0.55 (loss may lead to $0.52 test)

Current ADA Market Snapshot

• Price: $0.571 (-2% daily)
• Volume: $586M (-1.7%)
• Open Interest: $724M (-2.15%)