Cardano, the famous Layer-1 network, has witnessed a slim movement this year, but many of the basics and technical patterns indicate a possible upcoming ups.

Cardano (LeadIt was trading near the critical support level at one dollar on Tuesday, a decrease of about 27 % of its highest levels in December. However, it may be about to play a large bull if some artistic patterns hold.

First, ADA entered the fourth stage of Elliott wave style. The first wave occurred between October 2023 and March 2024, followed by the second corrective wave from March to August.

The third wave extended to November, as the currency reached the level of Fibonacci's re -imitation by 38.2 % at $ 1.3375. If the final motivation wave is achieved, ADA can rise to the Fibonacci level by 61.8 % at $ 2, which represents a possible increase of 110 % over its current price.

Second, Cardano has formed a three -bottle chart style at $ 0.2636, with the neckline 0.8130 dollars. The currency was broken over this neck line and successfully brought it back, which is a continuing bullish sign.

In addition, ADA formed a bullish shepherd pattern, consisting of a tall vertical line and a unification triangle. The triangle approaches its meeting point, indicating that a strong bullish collapse may happen soon.

Therefore, the ADA price is likely to rise to the level of decline by 50 % at $ 1.6685, followed by a point of 61.8 % at $ 2.01. This prediction may take longer because this is a weekly scheme.

The potential stimuli of ADA price

Cardano has many stimuli that can pay their price up in the short term .. First, Cardano ETF's possibilities have increased to nearly 60 % on PolymarketEven from the lowest level for this month from 20 %. ETF approval may lead to more noise and flow from institutional investors.

Second, Cardano's open interests remained strong, although the coin is in the bear market. The open interest currently exceeds $ 1.2 billion, indicating the continuous demand in the futures market. This difference can lead to more ups in ADA.

Moreover, Cardano Price may benefit from the launch of the next midnight and Bitcoinos integration. The middle of the night will be the zero scaling solution, while Bitcoinos will make it operating with Bitcoin (BTC).