ADA Slides 2.21% Despite Midnight Network Airdrop and Node Upgrade—Will Technical Uncertainty Persist?

Cardano (ADA) experienced a 2.21% price decline over the past 24 hours, opening at $0.5828 and currently trading at $0.5699 on Binance. The price decrease appears to be influenced by ongoing technical consolidation, as ADA continues to trade within a descending channel since May, with traders awaiting confirmation of a potential bullish reversal. Despite recent positive developments such as the upcoming Midnight Network Glacier Drop airdrop for ADA holders and the release of node version 10.4.1 introducing the UTXO-HD feature, these have not yet translated into immediate upward price momentum. ADA remains actively traded, with estimated daily volumes exceeding $1 billion and a fully diluted valuation near $23.7 billion, indicating sustained market interest amid cautious sentiment and technical uncertainty.