Cardano Founder Not at Crypto Summit: Will Price Fall Further From 26.9% This Week?
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Cryptocurrency
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We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Cardano (ADA) is struggling to recover, trading near $0.798, after a 26.9% weekly decline. The latest setback comes as Cardano’s co-founder, Charles Hoskinson, was excluded from the White House Crypto Summit on March 7, raising concerns about ADA’s standing in regulatory discussions.
His absence has sparked debate within the crypto community. Some speculate that Cardano’s exclusion from key policy discussions signals a shift in influence, raising concerns about ADA’s standing 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 backtracking has fueled market volatility, leaving investors questioning ADA’s role in future regulatory decisions.
Is Hoskinson’s Exclusion a Red Flag for Cardano Investors?
The decision to leave Hoskinson out of the Crypto Summit has led to speculation about Cardano’s relevance in shaping crypto policy.
Some industry analysts argue that projects with stronger institutional ties were prioritized, while others see it as a broader disconnect between regulators and emerging blockchain projects.
- Hoskinson was not invited to the White House Crypto Summit, raising concerns about Cardano’s influence.
- Market sentiment remains cautious, with ADA struggling to regain lost ground.
- Despite uncertainty, Cardano’s tech and community remain solid, supporting long-term prospects.
While this exclusion alone isn’t a sell signal, it highlights 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
Cardano has confirmed a bearish breakdown below a symmetrical triangle on the 4-hour chart, indicating further downside risk.
- Key Resistance: $0.85 (50-period EMA)
- Support Levels: $0.76, with a deeper drop possible to $0.679
Failing to reclaim $0.85 would keep selling pressure intact, increasing the likelihood of a decline toward $0.76 or even $0.68.
If buyers regain control, a breakout above $0.85–$0.90 would shift sentiment. Until then, ADA remains in a downtrend, with traders watching volume and market sentiment for further confirmation.
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