Cardano's price has faced consistent bearish pressure since the start of September, as indicated by key technical indicators such as the MACD and RSI.

However, a bullish shift occurred on the 9th of September, with the MACD crossing above the Signal line and the RSI entering the bullish zone.

Despite these positive technical signals, the price hikes remained modest until Cardano founder Charles Hoskinson addressed rumors circulating the project on X.

Hoskinson's rebuttal of the rumors triggered a 4.75% surge in Cardano's (ADA) trading price, bringing it to $0.3549.

As of the latest CoinMarketCap update, Cardano recorded a 10% weekly gain, outperforming both Bitcoin and Solana over the same period.

The rumors surrounding Cardano were discussed by a group of well-known crypto analysts, including MartyParty, CTO Larson, InvestAnswers, and Mando, in a podcast posted on X.

Source: https://ambcrypto.com/cardanos-hoskinson-debunks-ada-rumors-but-price-fluctuates/

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