Cardano Targets New ATH Above $4Cardano is preparing for the Plomin hard fork in January 2025, which aims to enhance governance and network infrastructure, further strengthening its position in the market. This bullish flag pattern could materialize due to its strong fundamentals, a continuously improving environment, positive sentiment driven by key events like the hard fork, and potential momentum from an upcoming altcoin bull run. If these conditions align, ADA has a high probability of reaching a new all-time high (ATH).
For this bullish flag pattern be positive and work, the price would need to break above the upper resistance of the channel, accompanied by a significant increase in trading volume. This breakout could be triggered by a decline in Bitcoin Dominance, which could lead to capital flowing into altcoins. A broader altcoin bull run would significantly boost the chances of ADA reaching new highs. As I mentioned, Cardano’s ongoing fundamental developments, such as the Plomin hard fork this January, major network upgrades, or mass adoption of its technology, could attract increased investor interest, increasing this possible ATH
BTC.D = 57.92% (uptrend)
ALCOIN = 65.54% (downtrend)
