$ADA is preparing for the Plomin hard fork in January, which aims to improve the network’s governance and infrastructure, which further strengthens 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 such as 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 to 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. Such a breakout could be triggered by a drop in Bitcoin Dominance, which could lead to capital flowing into altcoins. A broader altcoin bull run would significantly increase the chances of ADA reaching new highs. As I mentioned, ongoing fundamental developments in Cardano, such as this January’s Plomin hard fork, major network upgrades, or the mass adoption of its technology, could attract increasing investor interest, boosting this potential ATH.
What do you think?!
