Cardano (ADA) is gaining attention again with new predictions suggesting a potential rise to $2. A descending triangle pattern indicates a possible strong uptrend if the daily candle closes above $1.15. Market sentiment, institutional investors, and fundamental factors could impact ADA’s future path. Notably, ADA’s trading volume surged by 28% to $1 billion in the past 24 hours. However, a concern is the decrease in whale addresses to the lowest level since July 2024, signaling caution among large investors. Regulatory factors have also influenced the market. The closure of SEC cases against Coinbase and Kraken reduced concerns about ADA being classified as unregistered securities, relieving market pressure. Additionally, rumors of an ADA ETF and potential inclusion in US digital asset reserves could attract more institutional investors to Cardano. Currently, ADA is in a price consolidation phase. A successful break above the $1.15 resistance could lead to growth towards $2, while failure to surpass this key level may result in continued price range or a drop to lower supports like $0.64.
