Cardano’s ADA token lost more than 30% this week, including a 13% drop Friday, making it five consecutive days of decline. The selloff comes as founder Charles Hoskinson clarified that his recent social media hiatus is temporary and not a step away from the project.
Five straight red days
ADA fell hard each day starting Monday. Friday’s 13% slide accelerated the rout, pushing the token below all key long-term moving averages. The weekly loss — north of 30% — is among the steepest for a top-10 crypto in recent memory.
Hoskinson hits pause, not quit
Charles Hoskinson addressed speculation after his social media activity dried up. He called it a temporary break, stressing that he’s still focused on blockchain research and development. “This isn’t an exit,” he wrote, emphasizing that price moves don’t drive his work on Cardano. The clarification came as ADA holders watched the charts nervously.
Network metrics flash mixed signals
Despite the price plunge, Cardano’s social dominance hit 0.52%, the highest level this year. Daily active addresses surged to 28,459, a four-month high. That means people are still using the network and talking about it — even as the token’s value gets crushed.
Technical picture
ADA’s RSI hit 22, deep in oversold territory, while the MACD is nearing a bearish crossover. The token trades below all its long-term moving averages. Traders are now watching two key support levels: $0.1274 (the 61.8% Fibonacci retracement) and $0.1500. On the upside, resistance sits at $0.2345 and $0.4139. Whether ADA can hold those lower levels — or break through resistance — is the open question heading into next week.
