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, following a decline of 26.9% over the past week. These recent setbacks are a result of Cardano’s co-founder, Charles Hoskinson, being excluded from the White House Crypto Summit on March 7. This exclusion has raised concerns about ADA’s position in regulatory discussions.
The absence of Hoskinson has sparked a debate within the crypto 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 broader market.
Adding to the uncertainty, a White House official retracted a statement that previously suggested ADA, XRP, and Solana (SOL) would be included in a proposed U.S. crypto reserve plan. This change in stance 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 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 larger disconnect between regulators and emerging blockchain projects.
Hoskinson’s absence from the White House Crypto Summit raises 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 affect 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 higher risk of further downward movement.
Key Resistance: $0.85 (50-period EMA)
Support Levels: $0.76, with the possibility of a deeper drop to $0.679
If Cardano fails to reclaim the $0.85 level, selling pressure is likely to persist, increasing the chances of a decline towards $0.76 or even $0.68.
If buyers regain control, a breakout above the $0.85-$0.90 range 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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