Cardano's ADA token experienced a 12% jump in value in the past 24 hours, reaching a three-week high of $1. The increase in ADA's price was influenced by rangebound trading in bitcoin and other leading cryptocurrencies. Although there was no immediate catalyst for ADA's bump, the protocol is expected to see significant development in the coming months, including the creation of a bitcoin-centric decentralized financial ecosystem and improvements to scalability and network performance. Price-chart analysis suggests that ADA could see further gains of up to 30%, with a potential re-test of the high of $1.32. Technical analysis indicators, such as MACD and RSI, also indicate bullish price action and the potential for continued upward movement.



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