Cardano (ADA) is in the news as a “made in America” crypto asset, coinciding with the re-election of Donald Trump as the US President. Created nearly a decade ago by Ethereum co-founder Charles Hoskinson, the Layer 1 blockchain is now being eyed for potential growth.
An X (formerly Twitter) account dug through all the posts drafted by Hoskinson on the social media platform over the years. The first mention that the account found of Cardano was during a debate about the collapse of bitUSD.
Hoskinson’s Dedication to Cardano
Hoskinson was a huge fan of the bitUSD stablecoin and talked about rebuilding the project once his work at Cardano was done. However, the rebuilding phase never came since Hoskinson has been actively working on the Cardano blockchain since at least 2015, launching it in September 2017.
First ever mention of it on here. Building a little thing called Cardano https://t.co/59OcLPLIr1
— whale (@cardano_whale) February 4, 2025
The X user added that there is immense potential in Cardano, given that Hoskinson has stood by his blockchain project since day one. They see the protocol as “naturally growing, headed to greatness.”
It is important to note that CoinMarketCap lists ADA as one among the “Top Made in America” tokens. With the US just having welcomed its first-ever pro-crypto president, ADA could see significant growth in the coming days.
ADA Price: Key Levels to Watch
While ADA is still down 75.75% from its all-time high of $3.10 seen during the peak of the previous crypto market cycle, the cryptocurrency soared 48.37% in the past year and trades at $0.7533 at the time of writing. The altcoin needs to reclaim $1 and make a move towards $1.5 to confirm the continuation of its uptrend.
Technical Indicators: Mixed Signals
The Relative Strength Index (RSI) for the ADA price action reads a value of 29.49 which confirms that the altcoin is now oversold. This could be a good entry point for investors as the gradient of the line suggests a strong control of bears.
On the other hand, the ADA price action is testing the support at the lower region of the Bollinger Bands. If the altcoin loses the $0.75 price level, there is a possibility of a bearish breakout.
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