Cardano was in a tight limit at a significant support level after Charles Hosinson made a case for the network and its tokens.
Cardano (ADA) was trading at $ 0.80, less than 40% from its highest level in December last year.
The coins, after its founder, Hosinson, exploded atherium and Solana in a long Youtube interview. In this, he said that its biggest differential factor was that it was working on integrating with bitcoin – a step that he believes that an unexplained $ 2 trillion is the opportunity. He Said,
“Somebody is going to crack it. We will work hard on this as we aim to have decentralized finance or DEFI layer of bitcoin network. I do not think it is near the atherium (Eth) and Solan (Sol) that takes it to achieve it. ,
Hoskinson’s interview came a few months later when Cardano announced a partnership with Bitcoino. This integration is expected to be active in the next few months.
Cardano is not the first blockchain to create bitcoin layer. A layer -2 core for the ecosystem of bitcoin has attracted 53 developers and the total value $ 626 million. Stack (STX) has 12 dapps and $ 104 million assets.
Hoskinson also criticized the atherium to promote the layer -2 network, which have taken its users. L2 Network such as base, arbitrum and optimism have become the leading players in the atherium network, handling billions of dollars transactions. These L2 networks are popular due to their low transaction fees and the fact that they take advantage of the safety of Ethereum.
He also blew up a highly popular cardano contestant, Solana, arguing that it could not survive, especially when the data moved into the increase in its ecosystem.
Hoskinson’s interview came a week before his so -called VIP meeting. Crypto analysts estimate that this X owner will be Elon Musk.
Cardano value forecast
The weekly chart suggests that the ADA price reached $ 1.32 in November last year and then retreated. Its upper side was an important level as it coincided with 38.2% fibonacci retracement level.
Cardano then retreated to $ 0.524 as it went to make the second phase of the Elliot Wave Pattern. This phase is usually followed by the third one, which is usually faster and the longest.
The cardano remains above the moving average of 50-week, a sign that is under bull control. Therefore, the coin will probably bounce back as the bulls target at a high level of last year’s high $ 1.32, up to 70% from the current level.
