Key Insights:
- Cardano news are on the trend again as founder Hoskinson expects the crypto market to reach $10T by 2026.
- ADA charts show consistent rallies within a strong ascending channel.
- Cardano gained recognition in the latest White House digital asset report.
Cardano News is circulating once again as its founder, Charles Hoskinson, made a confident prediction. Hoskinson postulated that the capitalization of digital assets worldwide is going to surpass the mark of 10 trillion by the end of the current cycle.
He thinks that it will extend to 2026. According to Hoskinson, the forecast is made as the development of regulations and the interest of institutions in them continues to rise.
This is partially due to the expected enactment of the U.S. CLARITY Act, a congressional bill intended to resolve confusion regarding the legal classification of digital assets.
His prediction, albeit ambitious, is in line with a general feeling in the digital asset sphere as major macro and regulatory headwinds persist to drive in the direction of ramping up adoption of blockchain.
Cardano News: ADA Cited in White House Report on Crypto Policy
Weighing further on the Cardano news by Hoskinson, Cardano has recently been added to a groundbreaking report of the United States government. Cardano is one of the global blockchain networks mentioned in a 166-page digital assets framework released by the Trump administration.
In the White House document, a number of use cases of blockchain technology and the lack of legal clarity in decentralized environments have been mentioned.
This implies that such projects as Cardano may find a more accommodating policy landscape.
It also indicates a shift in governmental attitude that goes beyond Bitcoin and Ethereum to the broader policy frame of Layer 1s with an academic layer and well-structured governance systems, like Cardano.
ADA Ascending Channel Points to $2.40 Target amid the Cardano News
Technically, the native token of Cardano (ADA) has been observing bullish attributes since it has been trading at a robust course under a wide uptrending channel.
As recorded by price charts, the Cardano price has, in the past, observed the limits of this climbing channel. It has made numerous rallies on the lower trendline support of this channel.
Historical trends indicate that ADA delivered +200% and +300% rebounds when the price reached the bottom level of the channel. The latest rejection at the $0.38 support draws a parallel recovery wave as the price today. Now at about $0.87, they are already indicating a continuation potential.
Proportionately, the trend might increase by a higher rate and reasonably drive the ADA against the top channel boundary at around $2.40, an area visited in the 2021 and now also in the current bull run.
The chart pattern indicates systematic build up with clearly marked break out points. Market building upward pressure can be evidenced by the pattern of higher lows and resistance retest that shows that the market is gaining momentum to move upwards.
Cardano Market Outlook, Will it Reclaim Previous Highs?
Notably, the rallies have not been sudden jumps. There have been gradual and consistent rallies that each retraced before attempting a higher resistance, which is a signal of an organic market, not manipulated markets.
Though Cardano has not yet surpassed its all-time high above the $3.10 mark, a current trading price of approximately $0.87 implies that the asset still has a lot of upside potential.
This possibility can be seen in the current ADA price model. The pullback after the mid-channel highs rejection in the first half of 2024, saw ADA pull back and find some good support at the $0.38 mark.
This is also in confluence with the long term lower trendline. Now that the rebound has started to pick up steam, the bullish momentum may see ADA into a complete retrace to past elevated levels supported by the current Cardano news. However, this is as long as conditions in the market do not turn sour.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
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