Cardano has other bullish catalysts. For example, open interest in futures surged to $983 million, its highest level since March. It is about to surpass $1 billion.
Additionally, developers are about to launch the Glacier airdrop that will allow ADA holders to receive NIGHT tokens that they can cash out.
The price of ADA has recovered slightly in recent days, and its strong metrics point to more gains this year. The initial target is a 40% increase up to the neckline of the double bottom at $0.8630, while a breach of that level will indicate more gains up to $1.2153.