Cardano (ADA) is working through a whirlpool of key ecosystem updates, and the double-digit percentage upswing recorded over the past month has breathed fresh optimism into the token's value. On the daily charts, Cardano's price has managed to print a double bottom, a pattern that materialized as the market hunted for higher lows in the area between $0.152 and $0.16 — a formation that has laid the groundwork for the latest push higher. A double bottom marks two successive lows at roughly the same support level, a shape chartists associate with buyers repeatedly defending a price floor.

What the Cardano Price Trend Switch Tells Us

Cardano's price is now pushing through the $0.18 confluent resistance line and has already flipped the SuperTrend. Depicted by the green line on the chart, this crucial indicator determines when a price trend switches: when it flashes green and the actual price trades above the green line, the setup hints at ADA's bulls recovering territory. SuperTrend is built from the Average True Range of recent price action, which makes it a trend-following tool — it confirms shifts already underway rather than anticipating them.

What makes the current chart setup particularly interesting is the fact that Cardano's price has hit extremely oversold levels on the Stochastic Relative Strength Index (StochRSI). With the oscillator hovering between 20.69 and 3.95, the reading hints that ADA is undervalued against present market conditions — which raises the question of whether the token's bulls are feeling the same way. The StochRSI applies the stochastic formula to RSI values themselves, producing a faster momentum gauge in which readings below 20 are conventionally treated as oversold territory.

Whales Unfazed by the Van Rossem Upgrade, But...

Whale distribution strategies still prevail on smaller time-frames, as Cardano displays a high correlation with Bitcoin (BTC). The apex crypto asset slumped toward $62,000, while Cardano's whales have been taking profits on the one-hour and four-hour time-frames. Regardless of that shorter-term behavior, the one-day chart looks bullish, with the CMF softly hovering above 0. The Chaikin Money Flow weighs buying pressure against selling pressure using volume data, so a reading above 0 indicates net inflows over the period measured.

In the final run-up to the hard fork, Intersect documented its status in the update below:

van Rossem hard fork update ⚙️ As we approach the final 12 hours of epoch 642, a look at the current hard fork status – 93% block production on node version 11 – 84.15% exchange readiness by liquidity – Hard fork working group has voted to formally recommend ratification… pic.twitter.com/rEXeuGxCHF

— Intersect (@IntersectMBO), July 13, 2026

Those thresholds matter because hard forks depend on coordination: block-producing nodes need to run the new software before the switchover to avoid a split in the chain, and exchanges need to be ready so that deposits and withdrawals are not disrupted.

A few weeks ago, Cardano's Layer-1 developers completed the Van Rossem upgrade, but the rollout has not significantly pushed the price higher. The network's total value locked (TVL) metrics also show a considerable discrepancy: Cardano's overall TVL has fallen below $100 million to $18 million, even as the ADA-native network continues to post exponential growth in stablecoins — a stark divergence between the two measures. TVL tallies the capital held in a blockchain's smart contracts and is the standard yardstick for comparing DeFi activity across chains, while stablecoins — tokens pegged to fiat currencies — typically serve as the trading and settlement layer of that activity.

Much of that stablecoin expansion can be attributed to the rise of Cardano's Midnight. The side-chain privacy network delivers a best-of-both-worlds mix of privacy and regulatory compliance: merchants can conceal their sensitive transaction data on request, a capability that makes Midnight an attractive option for institutions conducting business under multi-national licenses. For now, the chart and the on-chain data point in different directions, leaving the TVL-versus-stablecoin spread as the divergence to track as the post-fork period unfolds.