- Cardano price rose more than 11% as bulls touched the highest level in over three weeks.
- Gains came as Bitcoin rebounded to $92,000 and as Cardano cheered two key developments.
- The uptick to $0.47 could allow bulls to target the crucial $0.50 mark and higher in coming weeks.
Cardano topped the list of 24-hour gainers on Wednesday, with the token’s price jumping more than 11% as bulls looked to build on gains seen on December 9, 2025.
Those gains saw ADA touch its highest level since November 19 and came amid a broader crypto market rebound.
As Bitcoin flirted with resistance above $92,000, ADA price jumped to a high of $0.48.
Bulls are currently hovering at this level, with momentum helped by Cardano’s Midnight launch and ADA’s inclusion in the Bitwise crypto 10 ETF index.
These developments have fueled optimism among investors, positioning Cardano for a potential breakout as it seeks to reclaim critical price levels.
Cardano gains 11% as bulls touch $0.48
The Cardano token led op gainers across the top 100 coins by market cap.
ADA’s uptick in the previous session extended to early trading on December 10 as an 11% push over 24 hours helped prices climb to $0.48.
Bitcoin’s resilience has helped bulls. However, pivotal drivers of this upward momentum included the recent launch of Midnight.
The privacy-focused sidechain integrated with Cardano has its token trading on multiple exchanges as privacy coins show upward potential.
Midnight, which debuted on December 8, 2025, leverages zero-knowledge proofs and the Hydra scaling solution.
Its launch has sparked enthusiasm, including from Charles Hoskinson, founder of Cardano.
Hoskinson celebrated the milestone on X, stating, “Congratulations Midnight.”
Congratulations Midnight https://t.co/MsdgiQyCoW
— Charles Hoskinson (@IOHK_Charles) December 9, 2025
The positive sentiment surrounding Midnight, combined with the market’s bullish turn, provided tailwinds for ADA.
Further boosting the price surge earlier in the week is Cardano’s inclusion in the Bitwise 10 Crypto Index ETF (BITW), launched on December 9, 2025.
BITW trades on the New York Stock Exchange and saw its assets under management (AUM) hit $1.25 billion on December 9, and allocates 0.65% of its holdings to ADA.
Cardano price outlook: breakout above $0.50 next?
ADA’s recent gains mean bulls could target the $0.50 mark, a level below which bears accelerated the downward pressure in mid-November.
The breach saw prices hit lows of $0.37 before staging a robust recovery that initially faded to around $0.45.
Amid the broader crypto market’s upward trajectory, buyers have pierced the supply wall, and technical indicators suggest a potential pump to the $0.50 threshold.
Technical analysis highlights a positive Moving Average Convergence Divergence (MACD) indicator.
MACD on the daily chart shows a bullish crossover, while the Relative Strength Index (RSI) has crossed above the critical 50 level.
In the event of a breakout, the key level to watch might be the 50-day exponential moving average (EMA) currently at $0.83.
As Cardano capitalizes on its technological advancements and institutional backing, the next target in a rallying market will be $1.00.
The cryptocurrency last reached this level in March 2025, when ADA exploded over 70% in a day to jump from around $0.65 to near $1.20.
