Cardano Founder Not at Crypto Summit: Will Price Fall Further From 26.9% This Week?
Cardano (ADA) is currently struggling to recover and is trading near $0.798, after experiencing a 26.9% decline in the past week. This recent setback is a result of Cardano’s co-founder, Charles Hoskinson, being excluded from the White House Crypto Summit on March 7, which has raised concerns about the standing of ADA in regulatory discussions.
The absence of Hoskinson has sparked debate within the crypto community, with some speculating that Cardano’s exclusion from important policy discussions indicates a shift in influence, which in turn raises 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 change in stance has contributed to market volatility, leaving investors questioning the role of ADA in future regulatory decisions.
Is Hoskinson’s exclusion a warning sign 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 connections were given priority, while others see it as a larger disconnect between regulators and emerging blockchain projects.
Hoskinson not being invited to the White House Crypto Summit has raised concerns about the influence of Cardano. Market sentiment remains cautious, with ADA struggling to regain lost ground. Despite the uncertainty, Cardano’s technology and community remain strong, supporting long-term prospects.
Although this exclusion alone is not a sell signal, it highlights the regulatory uncertainty that could potentially 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 further downside risk.
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 $0.85, selling pressure will persist, increasing the likelihood of a decline towards $0.76 or even $0.68.
If buyers regain control, a breakout above the $0.85-$0.90 range would shift sentiment. Until then, ADA remains in a downtrend, with traders monitoring volume and market sentiment for further confirmation.
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