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  • Hoskinson says that after the regulation wave, the crypto market will witness a fresh capital influx from Wall Street.
  • The CEO is looking forward to having ADA coins used in real life.
  • Cardano price has broken the trendline support at $0.166.

The co-founder and CEO of Cardano Charles Hoskinson, has recently shared his vision for the network. Hoskinson came out bullish on the project’s future envisioning Cardano as a trillion dollar cryptocurrency. He also said via a tweet last week saying that after regulations are all said and done, the cryptocurrency market will begin to witness an influx of capital from Wall Street. Hoskinson’s tweet read:

“What’s often missed by the cryptocurrency is going to die broken record media is that after the next wave of regulation, wall street is showing up to the party with all their locked up capital. That’s tens of trillions of dollars entering the space eventually. Future is bright.”

The CEO is looking forward to having ADA tokens used in real life and not just buying and selling on the exchanges. According to Ethereum World New, Hoskinson reckoned:

“I would love to see Cardano as the first trillion dollar cryptocurrency and the reason being is that that would effectively mean that we have built a self-sustaining economy.”

The founder expounded on the importance of EMURGO, an incubator for the ADA ecosystem. It works to support startups within in the ecosystem and Hoskinson hopes that the business ventures will become leaders in the economy in future. Hoskinson added:

“The way the ecosystem goes about doing its business is what makes it earn the current positive reputation of becoming the market leader and contender.”

Cardano price analysis

Cardano price has broken the trendline support at $0.166, before that it had rejected the stronger support at $0.170. ADA/USD is highly bearish at the time of press, besides, the MACD is moving deeper into the negative region. However, the 50 SMA is still above the longer term 200 SMA on the 2-hour chart, showing that there is still some buying power. Similarly, the stochastic is deep into the oversold levels which also mean that the sellers’ influence is going down and the buyers can enter.

Consequently, the 200 simple moving average will offer support at $0.1544 above the next short-term support target at $0.150. On the upside, the broken support at $0.170 (marginally above 61.8% Fib) will prevent recoil towards the supply zones at $0.18 and $0.1894 and later the critical resistance at $0.20.

ADA/USD 2-hour chart