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- 1 Cardano Founder, Charles Hoskinson is being attacked by certain allegations regarding his connections with the Ethereum team.
- 2 ADA crypto price gained 26% during its recovery from $0.23666 which was initiated on October 19.
Due to the recent allegations of Charles Hoskinson, Cardano price may face some backlashes as it approaches the primary resistance. Cardano price prediction shows a strong upside trend of ADA crypto towards the $0.37971488 level over the daily time frame chart.
Meanwhile, ADA cryptocurrency must break out of the $0.31835241 to continue its recovery towards the $0.37971488. However, ADA crypto is currently overbought and sell offs may get initiated as it approaches the primary resistance. ADA crypto should gain tremendously to recover maximum and reach the recovery mark over the charts. Let’s move on towards the full story about some allegations being made about the Cradano founder.
“Dossier” Full of Damning Information on Hoskinson…
Notable XRP community member ‘Mr. Huber’ has called out Cardano co-founder Charles Hoskinson on X (formerly Twitter). Mr Huber tagged a clip from an undated video featuring the well-known author, Laura Shin. In the video, Laura Shin claimed that Hoskinson told people that he was Satoshi Nakamoto (the pseudonymous creator of Bitcoin, who’s real identity remains a mystery till date).
What added to the intrigue was Laura Shin’s statement that the Ethereum team’s rift with Charles Hoskinson stemmed from their lack of trust in him. According to Shin, the Ethereum team had scoured the internet and compiled a substantial amount of information about him, which they deemed incriminating. This information formed a kind of dossier on Charles Hoskinson, and played a role in their decision to part ways with him during a significant meeting.
It’s worth noting that Charles Hoskinson left the Ethereum Foundation, leading to the creation of Cardano, following a disagreement with the team. However, the XRP community, engaged in an ongoing feud with Hoskinson, found the claims about potentially incriminating information held by the Ethereum team quite noteworthy.
It’s important to note that the founder of Cardano, Charles Hoskinson called members of the XRP community conspiracy theorists. This happened after influential figures in the XRP community suggested that the Ethereum Foundation had influenced the United States Securities and Exchange Commission (SEC) to provide favorable treatment to Ethereum (ETH).
Charles Hoskinson Nullifies Dossier Rumors
In response to Mr. Huber’s initial post, Charles Hoskinson, tweeted that if there was such a dossier, Laura Shin would have published it ‘verbatim’.
Laura Shin’s book “The Cryptopians” uncovered many secrets about the cryptocurrency industry, shedding light on Charles Hoskinson’s connections with the Ethereum Foundation. The book asserted that the Cardano founder had misrepresented his educational background.
In the meantime, the founder of Cardano has recently found himself on the defensive on other matters. Charles Hoskinson disassociated himself from the ongoing controversy surrounding the Cardano Foundation earlier this month.
Cardano Price May Slip Following These Rumors and its Overbought Status
Cardano price prediction highlights the most relevant issue for investors in ADA cryptocurrency. ADA crypto price may initiate its slippage as it approaches the primary resistance and also some recent allegations might affect the price action of Cardano. Nevertheless, ADA crypto is trying to sustain a 200-days DMA to remain above 20, 50 and 100-days daily moving average.
ADA price was at $0.29846000 and gained around 1.10% of its market capitalization during the day’s trading session. Trading volume has increased by 57% during the intraday trading session. This demonstrates that buyers are trying to let ADA sustain at the $0.30 mark to recover towards the $0.31835241 mark. Volume to market cap ratio was at 2.04%.
Cardano cryptocurrency gained 13.40% in a week and 19.92% in a month. However, ADA crypto slipped by 2.40% in the last three months and 23.49% in the last six months. Nevertheless, Cardano ADA price surged around 21.87% year to date.
Cardano ADA price may fall from the 200-DMA line to retrace its path backwards as it is highly overbought. Technical indications suggest ADA crypto is moving with upward momentum over the daily time frame chart. Relative strength index (RSI) confirms the overbought status of Cardano ADA price. RSI was at 79 and has entered the overbought territory. Investors in Cardano cryptocurrency need to wait until ADA crypto price sustains at the current level.
Summary
Due to the recent allegations on Charles Hoskinson, Cardano price may face backlash as it approaches the primary resistance. Hoskinson co-founded Cardano after quitting the Ethereum team. ADA crypto price may initiate its slippage as it approaches the primary resistance apart from the effects of the clip. Technical indications highlight positive momentum on the daily chart.
Technical Levels
Support Levels: $15.80 and $15.30
Resistance Levels: $16.80 and $17.20
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
