Can airdrops not support ADA? Or is it just a matter of time before it hits $2?
Cardano has been quite lively recently—right after the “Midnight Glacier” airdrop landed, the listing of cbADA on the Base network pushed the topic to trending searches, with over 200,000 discussions on platform X in a week, creating quite the buzz. However—the coin price is still stuck around $0.57, 55% down from the 2024 peak of $1.33.
So the question arises:
Is it really going to take off, or is this just another wave of “airdrop dumping”?
Short-term technical outlook: struggling but with some hope
The price is hovering in the $0.55 to $0.60 range, and the Bollinger Bands are contracting.
Support from the April low + support from the lower Bollinger Band provides double support.
If a breakout occurs with volume above $0.62, it may first touch around $0.70.
But conversely—
If it breaks below the $0.55 support, it could quickly drop to $0.50.
cbADA on Base may enhance DeFi usability.
Ecological social engagement is surging, with potential new user growth.
Institutions are starting to pay attention to ADA's reusability.
