Overview
- Following Monday’s Midnight mainnet launch, ADA slipped to about $0.24 on Tuesday, retesting a support zone that dates back to 2022.
- Large holders added roughly 220–270 million ADA in the March 24–30 window, signaling dip‑buying even as price fell.
- Futures data show pressure building, with open interest dropping since mid‑March and funding turning negative in several reads.
- Chart watchers highlight $0.245 and $0.235 as must‑hold levels, with breakdown targets near $0.22 and a deeper risk around $0.20.
- Longer‑term tailwinds include the SEC and CFTC classifying ADA as a commodity and the launch of Midnight and native USDCx, yet network activity remains low and a reported 940,000‑ADA swap into NIGHT showed how single large trades can sway a thin market.