Cardano price prediction: What's next as ADA hits 6-year low?

Cardano [$ADA] has shed 30% so far in June, and founder Charles Hoskinson's recent statement did not exactly steady the ship. Part of the selling was triggered by a Hoskinson post that the community interpreted — perhaps generously — as him exiting the network. On Thursday, Hoskinson clarified he is not leaving the chain. He did, however, announce a summer sabbatical from X (formerly Twitter), citing toxicity. He also had a message for the crowd: "If you want someone to make $ADA go back to all-time highs, I'm not your person." The altcoin dumped 10% after the statement. As of writing, $ADA was down another 10%, sliding to a six-year low of $0.162. Source: $ADA/$USDT, TradingView

What's next for $ADA? With sentiment soured and Bitcoin still leaning bearish, the pullback could keep extending. If bulls fail to defend the $0.157 support, the next plausible floors sit at $0.10 or $0.029 — a zone that marked the bottom in both the 2019 and 2022 bear market phases. In other words, the altcoin could still shed another 35%–80%, depending on which support level catches it. Source: $ADA/$USDT, TradingView

It remains unclear whether the altcoin will bottom at the same levels it touched in 2019 and 2020. But these are the markers worth tracking if broader crypto weakness deepens into late June and Q3. Despite the noise and the FUD, whale wallets holding 1–10 million $ADA and 10M–100M $ADA have been aggressively buying the dip since last October. These cohorts now control nearly 20 billion $ADA, or roughly 52% of the overall supply. Source: Santiment

Overall, $ADA's market sentiment worsened after Hoskinson's statement, extending monthly losses to 30% and printing a new low last seen in 2020. But the worst may not be over if the broader market contraction stretches into Q3. If so, the next potential floor levels are $0.10 or $0.029.

Final Summary: $ADA's monthly losses hit 30%, dragging the altcoin to a 6-year low of $0.15. Whales controlling more than half of the supply have ramped up their dip-buying spree.