Cardano cofounder Charles Hoskinson has stated that it is strange for people not to hold ADA - in a semi-serious manner, of course. However, the statement comes as Cardano faces a tough market period, just like the rest of the cryptocurrency market.
When we look at the ADA price chart, we can see that its value has been going down recently. At the moment, the price is around $0.5753. This is after the drop from higher levels that it tried to hold onto.
The chart shows that ADA's price has gone under the 21-day Exponential Moving Average (EMA), which is at $0.6577. This is important because it can tell us how strong the price is. Right now, it shows that the price might keep going down.
However, ADA has a chance to grow again if it can go back above the 21-day EMA. If it can do this and stay above $0.6577, then the next target for the price could be around $0.6363. This is where the 50-day EMA is, and it is another big test for the price.
On the lower side, there is a support level at $0.5227. This means that if the price keeps falling, it might stop and possibly go up again when it reaches this price. But if it falls even lower, the next big support is at approximately $0.51, which is where the 200-day EMA is.
For the future, ADA's price might have a better chance if the whole crypto market starts to do well again. But for now, it looks like the price could go either way. It could try to go up again or it might keep falling. The market is really unpredictable, which is why it is so important to keep an eye on the prices.
Charles Hoskinson's confidence in ADA might be a strong message, but the price chart shows that ADA is not as strong as it is portrayed by Charles Hoskinson.