Cardano (ADA) is drawing attention from analysts pointing to its potential breakout. An audit of the ADA Voucher program has confirmed the legitimacy of funds and cleared the founder of the project, Charles Hoskinson, of allegations.
Technical Analysis of Cardano and Possible Breakout Levels
ADA has re-entered a key trading range, with support possibly at current levels. Resistance is observed near $0.92 and $1.24, following trader observations that the green support area may present an optimal entry. Analysts have also added that ADA could be preparing for upside if momentum builds, with 2025 and 2026 viewed as potential years for new highs.
Audit Confirms Legitimacy of Voucher Program
Founder Charles Hoskinson faced accusations of mismanaging funds through the ADA Voucher Program. The investigation revealed that 99.7% of the 14,282 vouchers were legitimately used, with no misuse of funds confirmed. An audit conducted by McDermott, Will & Schulte and BDO dismissed all major allegations.
Hoskinson Responds to Allegations
Following the audit, Hoskinson expressed his frustration on social media and noted that he is awaiting apologies from critics, emphasizing that the independent report confirmed the absence of insider manipulation. He clarified that the allocated funds were moved to custodial reserves during the Token Generation Event.
With a clean audit outcome and monitoring of key technical ranges, Cardano continues to attract the attention of analysts and market participants, awaiting its further movement.
