Cardano price prediction: What's next as ADA drops 30% to a six-year low

Cardano [ADA] has crashed 30% so far in June, and Charles Hoskinson's recent statement has not exactly steadied the ship. Part of the losses were triggered by a Hoskinson post that the community misread as him exiting the network — a reading that aged about as well as a "sell the news" tweet.

On Thursday, Hoskinson clarified that he is not leaving the chain. He did, however, announce a summer break from X (formerly Twitter), citing toxicity, and warned anyone expecting him to prop up ADA's price to rethink their strategy. "If you want someone to make $ADA go back to all-time highs, I'm not your person," he said. The altcoin dumped 10% on the news.

As of this writing, ADA was down another 10%, slipping to a six-year low of $0.162. With sentiment souring and Bitcoin still applying bearish pressure, ADA's pullback could extend further. If bulls fail to defend the $0.157 support, the next potential floors sit at $0.10 or $0.029 — a zone that marked the bottom during the 2019 and 2022 bear phases. Depending on which level gives way, the altcoin could still bleed another 35% to 80%.

It remains unclear whether ADA will bottom out at the same levels it did in 2019 and 2020, but these are the lines to watch if broader crypto weakness deepens in late June and Q3.

Despite the noise and the FUD, whale wallets holding 1–10 million ADA and 10M–100M ADA have been steadily buying the dip since last October. These cohorts now hold nearly 20 billion ADA, or about 52% of the total supply — diamond hands, apparently.

Overall, ADA's market sentiment worsened after Hoskinson's statement, pushing monthly losses to 30% and marking a new low not seen since 2020. The worst may not be over if the broader market contraction extends into Q3, in which case the next potential floor levels would be $0.10 or $0.029.