- Cardano’s price rose more than 11% as bulls pushed the token to its highest level in over three weeks.
- Gains came alongside Bitcoin’s rebound toward $92,000, while Cardano celebrated two key developments.
- A move toward $0.47 could allow bulls to target the important $0.50 threshold and higher in coming weeks.
Cardano led 24-hour gainers on Wednesday as the token climbed more than 11%, with bulls attempting to build on the momentum that started on December 9, 2025.
Those gains brought ADA to its highest level since November 19, arriving amid a broader crypto market recovery.
As Bitcoin tested resistance above $92,000, ADA spiked to a high of $0.48.
Bulls are holding that level, helped by the launch of Cardano’s Midnight sidechain and ADA’s inclusion in the Bitwise Crypto 10 ETF index.
These developments boosted investor optimism and positioned Cardano for a potential breakout as it chases reclaiming key price levels.
Cardano gains 11% as bulls reach $0.48
The Cardano token topped the list of the 100 largest coins by market capitalization.
ADA’s surge in the previous session carried into early trading on December 10, when an 11% 24-hour rise pushed the price up to $0.48.
Bitcoin’s resilience supported the bullish move, but the primary drivers were the recent launch of Midnight and increased institutional attention.
The privacy-focused sidechain integrated with Cardano has seen its native tokens listed on several exchanges as private coins show potential demand.
Midnight, which debuted on December 8, 2025, leverages zero-knowledge proofs and Hydra scaling solutions.
Its launch sparked enthusiasm across the Cardano community, including praise from Cardano founder Charles Hoskinson.
Hoskinson marked the milestone on X with a brief congratulatory message to the Midnight team.
The positive sentiment around Midnight, combined with a bullish turn in the market, gave ADA favorable tailwinds.
Further support for the early-week price rise came from ADA’s allocation in the Bitwise 10 Crypto Index ETF (BITW), which launched on December 9, 2025.
BITW trades on the New York Stock Exchange, and as of December 9 it reported $1.25 billion in assets under management, with ADA representing 0.65% of its holdings.
Cardano price outlook: can it break above $0.50 next?
Recent gains suggest bulls may target the $0.50 level, which previously triggered intensified selling pressure in mid-November.
That earlier breakdown drove prices as low as $0.37 before a robust recovery lifted ADA back toward roughly $0.45.
Amid the broader market’s upward trajectory, buyers pierced through sell-side resistance and technical indicators point to potential upside toward $0.50.
Technical analysis highlights a positive signal from the moving average convergence divergence (MACD).
The daily MACD shows a bullish crossover while the relative strength index (RSI) has moved above the key 50 level.
If momentum continues, a key level to watch will be the 50-day exponential moving average (EMA), which currently sits near $0.83.
As Cardano leverages its technological advances and growing institutional interest, a longer-term target on an extended rally would be $1.00.
ADA last reached that area in March 2025, when the token surged more than 70% in a single day, jumping from roughly $0.65 to nearly $1.20.