Amidst this bullish sentiment, Charles Hoskinson, the founder and CEO of Cardano, recently made a post on X (formerly Twitter) stating, “Let’s get Cardano support in Brave.” This post by Hoskinson came in response to a request from a Brave community member seeking support for the Cardano blockchain.
Charles Hoskinson’s support for Brave
Following this, Brave community members also urged their users to vote for the support of the Cardano blockchain and named it “Please add support for the Cardano blockchain.” However, the community members are not clear about the purpose for which they are seeking support, whether it is for the Brave rewards or the Brave wallet, as one community member mentioned during the voting process.
It appears that the price of Cardano (ADA) is also being impacted by Charles Hoskinson’s recent post regarding Brave support. Currently, Cardano’s ADA is trading near $0.69, and in the last 24 hours, it has experienced over a 9% upside momentum. Examining Cardano’s ADA performance over a longer period, in the last 7 days, it experienced over a 15% upside momentum, whereas in the last 30 days, the ADA price has seen over a 40% upside momentum.
Cardano technical analysis and key levels
Despite all the support for Brave, on February 29, 2024, Cardano’s ADA hit a nearly 2-year high of $0.68 and is currently trading above $0.69. With this recent record-high, ADA is looking bullish, as its daily candle is expected to close above $0.69. According to expert technical analysis, if Cardano’s ADA closes above $0.69 on a daily time frame, it has the potential to reach the $1.2 level in the coming days.
As of now, the overall sentiment around cryptocurrency is bullish, as top cryptos like Bitcoin, Ethereum, Solana, and many others have consistently experienced bullish trends in the last few days. These top cryptos have also encountered significant gains in the past 24 hours.
The major reason behind this massive price surge is the ongoing bullish sentiment. Another contributing factor to this surge is the recent accumulation of ADA tokens by crypto whales. Additionally, this week, analysts have observed that more people holding Cardano are experiencing losses rather than gains, as reported by the on-chain analytics firm Santiment.
