The cryptocurrency world has its eyes fixed on Cardano as the network's native token, ADA, gears up for a potential surge towards the $0.7 mark. This bullish forecast comes on the heels of the highly anticipated Chang Hard Fork upgrade, a pivotal moment in Cardano's evolution that promises to enhance the blockchain's functionality and governance structure.

Prominent crypto analyst Captain Faibik has shared an optimistic outlook on ADA's price trajectory, citing a falling wedge formation on the token's daily chart. This technical pattern, often associated with bullish trends, suggests that a breakout could be imminent for Cardano. The analyst's price chart indicates that ADA could rally to the coveted $0.7 level in the coming days, aligning with the excitement surrounding the Chang Hard Fork.

The Chang Hard Fork, set to be finalized this month, aims to further decentralize Cardano's governance model and boost its overall market appeal. Cardano founder Charles Hoskinson has emphasized the upgrade's significance in advancing the network's governance and ecosystem integrity. The Cardano Foundation has also underscored the importance of this milestone, outlining its new governance role and participation in the Interim Constitutional Committee (ICC).

The proposed governance model includes various action types, such as parameter changes, hard fork initiations, and informational actions. This framework is designed to balance inclusivity and diversity while offering effective checks and balances through DReps, SPOs, and others. As part of this governance overhaul, the Cardano Foundation will serve as a member of the ICC, collaborating with SPOs on hard forks and managing protocol changes.

As of writing, Cardano price has soared 1.85% to trade at $0.3955, with its one-day trading volume rising 25% to $328.63 million. ADA has touched a high of $0.402 in the last 24 hours, while CoinGlass data shows that ADA Futures Open Interest jumped around 4% to $220.38 million, signaling growing market participation and optimism towards the crypto.

The stage is set for Cardano's potential liftoff, with the Chang Hard Fork serving as a catalyst for ADA's anticipated breakout. As the crypto community eagerly awaits the upgrade's finalization, Cardano's journey towards enhanced decentralization and governance promises to captivate the market in the coming days and weeks.