Cardano Founder Not at Crypto Summit: Will Price Fall Further From 26.9% This Week?
Cardano (ADA) is currently facing difficulties in recovering, with its price trading near $0.798 after experiencing a 26.9% decline over the past week. This recent setback is attributed to the exclusion of Cardano’s co-founder, Charles Hoskinson, from the White House Crypto Summit on March 7. This exclusion has raised concerns about the status of ADA in regulatory discussions.
The absence of Hoskinson has sparked debates within the crypto community, with some speculating that Cardano’s exclusion from important policy discussions indicates a shift in influence, leading to concerns about ADA’s position in the broader market.
Adding to the uncertainty, a White House official retracted a statement that initially suggested ADA, XRP, and Solana (SOL) were part of a proposed U.S. crypto reserve plan. This reversal has caused market volatility, leaving investors uncertain about 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 led to speculation about the relevance of Cardano in shaping crypto policy. Some industry analysts argue that projects with stronger institutional ties were given priority, while others see it as a broader disconnect between regulators and emerging blockchain projects.
Hoskinson’s absence from the White House Crypto Summit has raised concerns about Cardano’s influence. Market sentiment remains cautious, with ADA struggling to regain its lost ground. Despite the uncertainty, Cardano’s technology and community remain strong, supporting its long-term prospects. While this exclusion alone is not a signal to sell, 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 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 further downside risk.
Key Resistance: $0.85 (50-period EMA)
Support Levels: $0.76, with a potential drop to $0.679
Failing to reclaim $0.85 would maintain selling pressure, 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 change the sentiment. Until then, ADA remains in a downtrend, with traders monitoring volume and market sentiment for further confirmation.
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