Cardano extends weekly losses beyond 30% despite community activity surge

Key takeaways: Hoskinson clarifies social media break as $ADA remains under intense selling pressure. $ADA is down 30% this week and could extend its selloff in the near term.

Cardano fell another 13% on Friday, bringing its weekly losses to more than 30% as investors reacted to comments from founder Charles Hoskinson and broader market weakness. The decline marks $ADA's fifth consecutive day of losses, despite a notable increase in network activity and community engagement — because nothing says "we're fine" like watching the chart bleed while the Discord hits record activity.

Hoskinson clarifies he is not leaving Cardano. Market anxiety intensified after Charles Hoskinson posted a brief message on social media stating, "I'm taking a break, TTYL," which some investors interpreted as a potential departure from Cardano and its development ecosystem. Following the backlash, Hoskinson returned with a live broadcast to clarify that he is stepping back only from public-facing activities and social media engagement, not from his involvement in Cardano or blockchain research. He emphasized that his focus remains on addressing complex industry challenges such as the blockchain trilemma, while distancing himself from expectations surrounding $ADA's market performance. "I am not passionate about making the price of $ADA go up," Hoskinson stated during the discussion. A refreshingly candid take, at least.

While the market reacted negatively, on-chain and social metrics suggest the Cardano community remains highly engaged — engagement, sadly, is not a buy order. According to Santiment data, social dominance climbed to approximately 0.52%, the highest level recorded this year. Furthermore, daily active addresses surged to 28,459, the strongest reading in roughly four months. The spike indicates that discussions and network participation accelerated as investors responded to speculation surrounding Hoskinson's comments. However, increased activity has so far failed to offset persistent selling pressure.

Cardano price forecast: Technical outlook remains bearish. From a technical perspective, Cardano remains in a firmly bearish trend. $ADA continues to trade well below its key long-term moving averages (50-week EMA: $0.4139, 100-week EMA: $0.4967, and 200-week EMA: $0.5095). Momentum indicators also remain weak. The RSI has fallen to 22, entering oversold territory, while the MACD remains slightly positive but is nearing a bearish crossover. These signals suggest downside momentum remains dominant despite emerging oversold conditions.

If the bearish trend persists, the next major support level sits near the 61.8% Fibonacci retracement at $0.1274, calculated from Cardano's 2020–2021 bull market advance. However, the $0.1500 psychological support could serve as a short-term demand level in the near term. If the bullish trend resumes, immediate resistance would be seen at $0.2345 (50% Fibonacci retracement) and $0.4139 (50-week EMA). A sustained break below $0.1500 would increase the risk of a deeper correction toward the $0.1274 area, while any recovery attempt would first need to overcome resistance near $0.2345 before challenging longer-term trend barriers.