Cardano's price rose 11% on November 22, reaching $0.860, marking a significant 176% increase since November 5, with a 2.5-year high of $0.90. This price surge coincided with a broader rally in the crypto market, led by Bitcoin and Ethereum, as well as other top cryptocurrencies. The expectation of a more crypto-friendly regulatory environment under the incoming Trump administration, particularly following the resignation announcement of SEC Chair Gary Gensler, has contributed to the bullish sentiment. ADA experienced increased long positions indicated by a rise in the open interest-weighted funding rate and significant short liquidations. Traders have established a strong demand zone around the $0.80 mark, with over 66,250 ADA addresses accumulating 1.68 billion tokens at an average price of $0.7965. Technical indicators suggest the potential for further upward momentum, with little resistance anticipated until the $1.20 level.

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