- Hoskinson stresses innovation over social media pressure after missing a key US crypto summit, advocating for legislative action.
- ADA faces volatility, holding key support at $0.7850 while resistance at $0.9006 tests market sentiment amid uncertain momentum.
- Mixed technical signals show active market participation, but ADA’s next move depends on support levels holding firm.
Charles Hoskinson, the founder of Cardano, responded on X to the controversy surrounding his absence from a key US government crypto summit. He emphasized that pressuring officials on social media would not change policies. Instead, the Cardano community should prioritize innovation and ecosystem expansion, he suggested.
Hoskinson disclosed that despite contacting the White House, he never got an invitation. He explained that rather than through high-profile talks, actual policy changes will be achieved through legislative acts. Despite missing the event, he remains committed to global engagement and regulatory dialogues.
Cardano’s Price Faces Resistance Amid Market Shifts
Cardano (ADA) is experiencing notable price fluctuations. The 4-hour chart on Coinbase shows a 1.95% decline, bringing ADA to $0.8081. Resistance appears near $0.9006, aligning with the middle Bollinger Band.
A recent surge pushed ADA above $1.10 before a correction pulled prices lower. Increased volatility emerged as ADA dropped below the middle Bollinger Band. The lower band sits at $0.7850, acting as key support. Market participants now await the next significant move.
Market Indicators Suggest Uncertain Momentum
Technical indicators give conflicting clues about the future course of ADA. At 0.0035, the MACD histogram is still marginally positive, indicating a possible shift in momentum. The MACD line is still negative at -0.0169, though, suggesting that bearish pressure is still present.
With a trading volume of 5.59 million, the market is clearly actively participating. Increased buying activity is suggested by the volume rise during the most recent rally. Consolidation within a reduced range is evident during the correction phase, though.
What’s Next for Cardano?
The market now faces a critical test. If ADA holds above $0.7850, it could signal a rebound toward resistance at $0.9006. Conversely, further declines may trigger extended bearish movement.
Hoskinson’s engagement with Cardano’s long-term growth is equivalent to the decentralized nature of the network. Short-term price direction cannot be determined, but growth in the ecosystem and strategic participation in regulation might strengthen ADA’s position in the long run.
