Cardano Founder Not at Crypto Summit: Will Price Fall Further From 26.9% This Week?
Cardano (ADA) is currently facing difficulties in its recovery, with a trading price near $0.798, following a significant 26.9% decline in the past week. The recent setback occurred as Charles Hoskinson, the co-founder of Cardano, was excluded from the White House Crypto Summit on March 7. This exclusion has raised concerns regarding ADA’s position in regulatory discussions.
The absence of Hoskinson has sparked debates within the cryptocurrency community. Some speculate that Cardano’s exclusion from important policy discussions indicates a shift in influence, leading to concerns about ADA’s standing in the overall market.
Adding to the uncertainty, a White House official retracted a statement that initially suggested ADA, XRP, and Solana (SOL) were included in a proposed U.S. crypto reserve plan. This retraction has contributed to market volatility, causing investors to question ADA’s role in future regulatory decisions.
Is Hoskinson’s Exclusion a Red Flag for Cardano Investors?
The decision to exclude Hoskinson from the Crypto Summit has resulted in speculations about the relevance of Cardano in shaping crypto policy. Some industry analysts argue that projects with stronger institutional connections were given priority, while others view it as a broader gap between regulators and emerging blockchain projects.
Hoskinson’s absence from the White House Crypto Summit has raised concerns about Cardano’s influence. The market sentiment remains cautious, with ADA struggling to regain its lost ground. Despite the uncertainty, Cardano’s technology and community remain solid, supporting its long-term prospects.
While this exclusion alone is not a sell signal, it highlights the regulatory uncertainty that could impact investor confidence. The focus now shifts to Cardano’s ability to drive adoption and innovation, rather than relying solely on policy recognition.
Cardano (ADA/USD) Price Outlook: Bearish Breakdown Signals More Downside
On the 4-hour chart, Cardano has confirmed a bearish breakdown below a symmetrical triangle, indicating a further downside risk.
Key Resistance: $0.85 (50-period EMA)
Support Levels: $0.76, with a potential drop to $0.679
If Cardano fails to reclaim the $0.85 resistance, selling pressure will persist, increasing the likelihood of a decline towards $0.76 or even $0.68.
If buyers regain control, a breakout above $0.85-$0.90 would shift sentiment. Until then, Cardano remains in a downtrend, with traders monitoring volume and market sentiment for further confirmation.
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