- Charles Hoskinson discussed the future of Cardano with Ben Armstrong.
- Investors reacted positively to the interview as ADA’s price rose over the last 24 hours.
- ADA’s price may retrace slightly as it approaches the daily 9 EMA line.
Charles Hoskinson sat down yesterday with the crypto influencer, Ben Armstrong (also known as BitBoy), at the Cardano in-person event, Rare Bloom. In the interview, Hoskinson discussed the Vasil hard fork upgrade and how the Cardano network will proceed now that the upgrade was implemented without a hitch.
Investors reacted positively to the interview as since the price of Cardano’s native token, ADA, has risen 2.18% according to the crypto market tracking website, CoinMarketCap. At press time, the price of ADA is standing at $0.353. Despite the price increase over the last 24 hours, ADA is still down 3.69% over the last 7 days.
When comparing ADA’s performance to the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), the altcoin has strengthened against both of the dominant cryptos. ADA has strengthened against BTC by 2.06% and against ETH by 1.27%.
ADA’s price has printed two positive days so far, with it looking as if today will continue the trend. Now, its price is approaching the 9 Exponential Moving Average (EMA) line, which may introduce some sell pressure as bears will look to keep ADA’s price below the level.
With this being the case, ADA’s price may retrace slightly. Should this happen, traders will most likely see it as an opportunity to enter into a long position. This will elevate ADA’s price above the 9 EMA line, where traders will look to take profit. Therefore, a break above the 20 EMA line is unlikely at this point as bears continue to dominate the crypto market.
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