Cardano Price Declines as NIGHT Token Launch Fail

Cardano price is under downward pressure, testing the $0.42 support level as the NIGHT token has dropped by 80% due to an airdrop sell-off.

Cardano's price has dropped 10% in the previous 24 hours, falling below $0.45 amid a pessimistic market trend. This drop follows an adverse market reaction to the Federal Reserve's latest interest rate cut, which sparked a broader market decline.

At the same time, the cryptocurrency market as a whole fell by 3%. Cardano price has fallen to the $0.47 mark and is currently challenging the $0.43 point.

Although this has partially rebounded, momentum remains weak unless ADA can reclaim the $0.438 to $0.440 price level. If the support zone is intact, a few-month recovery is possible; but, in the case of ADA, the pressure may persist.

Cardano's Network's NIGHT Token Falls Following Launch

The NIGHT token of Cardano's Midnight Network has fallen almost 80% in recent days. The token's value surged to $150 upon its launch. However, NIGHTsoon has fallen and is now trading at approximately $0.050. It dropped by 6% in the last 24 hours.

Widespread selling by airdrop recipients primarily caused this precipitous reduction. Many of the holders who received the token as part of the airdrop began selling them as quickly as possible.

This selling pressure caused the price to drop dramatically. Cardano founder Charles Hoskin had previously announced the release of Midnight. He described it as the most successful in Cardano's history.

He stressed the network's ability to manage massive assets. Nevertheless, the token's price fluctuation following its launch highlights the challenges of managing speculative market activity.

In the last 24 hours, 54% of all active positions have been short positions. The long-short ratio chart shows a substantial increase in negative bets, indicating that traders expect the price to fall further.

Is the Cardano Price to Reverse or Decline Significantly Further?

On December 11, 2025, the ADA price hovered around $0.42, representing an 8% drop. Cardano price has recently experienced considerable downward pressure, with notable resistance levels near $0.50 and $0.45.

The MACD is in a negative trend, with the blue line (MACD) passing beneath the orange signal line, indicating a possible additional decline. On the upside, Cardano's long-term prognosis is to recapture levels above $0.45, with a positive turnaround potentially targeting $0.50.

The RSI is at 40, which is less than 50, indicating that ADA is approaching oversold territory. A dip below the ADA's support level of $0.42 may bring the Cardano price closer to $0.41.