Cardano Tanks, Golden Cross Pops: Is This the ADA Price Setup Everyone Waited For? - Blockonomi

TLDR:

• Cardano price holds at $0.87 after a sharp weekly drop, but technical charts show a new golden cross forming.
• ADA developers continue to lead GitHub activity, ranking ahead of Ethereum with consistent code contributions.
• ADA trading volume has outpaced BNB for eight consecutive days, signaling growing network usage.
• Midnight sidechain airdrop to 33M wallets may drive fresh ADA demand as users require tokens to participate.
  

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Cardano has once again piqued interest in the crypto market. After briefly reclaiming $1, ADA saw a sharp pullback. Traders now question whether the token can revisit its previous peak of $3.10 or remain under pressure. 

On-chain data, technical signals, and developer activity point to renewed market focus. Market watchers continue to weigh the possibilities for ADA’s next move.

According to CoinGecko, ADA trades at $0.8722 with $1.78 billion in 24-hour volume. The token has slipped 9.82% over the week but gained 1.57% in the last day. Despite the decline, analysts suggest technical and network activity could offer upside potential.

Cardano Price Charts Point to Bullish Setup

Crypto analyst Deezy reported that Cardano’s daily chart has triggered a golden cross. This occurs when the 50-day moving average crosses above the 200-day moving average. Historically, such a move has signaled a potential price rally.

Deezy noted that ADA surged 238% the last time this chart pattern appeared. A similar move could send the token to $2.52. While not guaranteed, traders see the setup as a strong bullish signal.

He also pointed to the ADA/BTC trading pair as another key chart. In the previous cycle, ADA climbed over 1,000% against Bitcoin. Deezy suggested a smaller but still considerable 5.5x move is possible if capital rotates from BTC into altcoins.

Market participants now monitor whether this cycle delivers the delayed altcoin rally many traders have anticipated.

Cardano just had a major pullback after recapturing $1

Is ADA dead? ☠️

Will it reach previous ATH? ($3.10) 🚀

Is it a ghost chain? 👻

Let's dive in 🧵👇

— Deezy (@deezy_BTC) August 20, 2025

Developer Growth and Rising ADA Volume

Beyond price action, analysts stress Cardano’s developer strength. 

Deezy highlighted that ADA consistently leads in GitHub commits, outpacing Ethereum in code contributions. The network supports projects ranging from memecoins to DeFi protocols, showing active ecosystem development.

The blockchain has also achieved over 2,800 days of uninterrupted uptime. That record, Deezy stated, underscores resilience compared with peers that have experienced outages. Cardano also features one of the largest governance frameworks and high decentralization scores.

Trading activity has matched network progress. ADA’s trading volume has surpassed Binance Coin’s for eight straight days, suggesting stronger liquidity and user interest. Data shows volume surges align with speculation around upcoming network events.

One such event is the Midnight sidechain launch. The project, set to airdrop tokens to 33 million wallets, requires ADA for interaction. This could push fresh demand from users across major cryptocurrencies who wish to claim the new NIGHT token.