Key Highlights:

• Cardano’s ADA soared by 12% in the last 24 hours, outpacing other major cryptocurrencies, influenced by Bitcoin's stable trading.
• The token hit a three-week high above $1 as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) recorded gains of less than 2%. The wider CoinDesk 20 index increased by 1.57%.

Traders anticipate Bitcoin's price to stabilize until the end of January, with expectations for growth as President Donald Trump comes into office. According to a previous CoinDesk analysis, a Bitcoin-centric decentralized financial ecosystem is projected, alongside enhancements to Cardano's scalability and interoperability with other networks.

Technical analysis indicates potential for ADA to gain an additional 30% following the recent rise.

“ADA's recent three-day rise has pushed prices beyond a trendline characterizing last month's pullback,” stated CoinDesk analyst Omkar Godbole. “The breakthrough may set the stage for reaching the December 3 peak of $1.32.”

“The widely-followed 14-day RSI appears poised to break through a descending trendline, reinforcing the bullish momentum,” Godbole added.