Cardano Price Prediction: Treasury Approves $70 Million Network Upgrade Plan – $10 ADA Just Weeks Away?

Key Points

1. The $70 million funding will support Input Output Global (IOG) in implementing key upgrades like Ouroboros Leios, Hydra scaling, Mithril, Nested Transactions, and Project Acropolis over the next 12 months.

2. ADA is currently testing a breakout threshold at $0.75, with technical indicators like the MACD line signaling a short-term uptrend.

3. A clean break above $0.75 could set a target of $1.10, marking a 46% gain, while failure to hold $0.75 may lead to a correction towards $0.58.

4. The 12-month development roadmap and potential TradFi demand could act as catalysts for ADA's price, though reaching $10 remains a long-term goal.

5. The approval of the treasury allocation is seen as a milestone for Cardano's decentralized governance and future innovation.