Cardano Price Shoots 7% amid Strong ADA Whale Orders

Core Insights - Cardano price has increased by 7% on January 2, 2026, surpassing $0.36, marking a recovery after a 20% decline in December 2025 [1][2] - The price surge is attributed to rising whale orders and improving on-chain and derivative data, indicating bullish sentiment among traders [2][3] Market Activity - Increased whale activity in both spot and futures markets suggests a growing optimism for Cardano, with traders anticipating a potential bullish breakout [3] - The funding rate data indicates a shift towards long positions, with the metric turning positive on January 1 and reaching 0.0068% on January 2, suggesting that long positions are currently paying shorts [4] Technical Analysis - Cardano is currently trading within a falling wedge pattern, with a potential breakout that could extend the rally to its 50-day moving average at $0.42 [4] - The Relative Strength Index (RSI) is at 43, indicating a potential move towards the neutral zone at 50, while the Moving Average Convergence Divergence (MACD) has confirmed a bullish crossover [5] Strategic Focus - Charles Hoskinson, the founder of Cardano, plans to concentrate on the Midnight network in 2026, following its successful launch in December 2025 [5][6] - Hoskinson aims to develop technical specifications and privacy tooling for the Midnight network as part of a five-year strategy to scale Cardano for mass adoption by 2030 [6]