#Cardano #ADA
🚀 Fundamental Growth Drivers separate charts, several important events are putting pressure on the price (in a positive sense):
1. ETF and institutional interest: Cyber Hornet has applied for the S&P Crypto 10 ETF, which includes ADA. This paves the way for big capital.
2. Ouroboros Leios Update: The development of this scaling protocol (which should increase network throughput) is already 83% complete. The anticipation of the launch is fueling the interest of developers.
3. "Critical" Integrations: Charles Hoskinson announced new important integrations by the end of January, which could become an unexpected catalyst (the so-called "black swan" in a positive sense).
4. Network Activity: The number of transactions on the network exceeded 118.4 million, which indicates the real use of the blockchain, and not just speculation.
⚠️ Risks and "But"
There are downsides to optimism, worth losing:
• Support level: If the price falls below $0.345, the triangle pattern will be invalidated and we may see a pullback to $0.32.
• Overall market: $ADA currently has a correlation with Bitcoin of around 0.7. This means that if BTC starts a sharp decline, even Cardano's perfect technical pattern may not hold.
