Cardano is going through one of its weakest periods in recent years. The token is currently trading near $0.35, down around 6% over the past week. The short-term move is not the main concern though – the bigger issue is the longer trend. Cardano has lost roughly 17% over the past month and more than 53% over the last three months.
This decline has pushed Cardano’s market capitalization below $13 billion. As a result, its position among the top 10 cryptocurrencies is no longer secure. Bitcoin Cash is now close behind, and a change in rankings has become a realistic scenario. While rankings do not change the technology itself, they often influence visibility and market perception.
The prolonged decline has also affected sentiment. Cardano has struggled to attract sustained buying interest, and each attempt at recovery has so far been met with renewed selling. The price is now far below levels that many long-term holders associate with stability.
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Hoskinson Responds
Amid the ongoing market weakness, Cardano founder Charles Hoskinson has remained active in addressing both development progress and community concerns. He has publicly rejected claims that he sold ADA holdings during previous price peaks, calling such accusations false and misleading. These statements were made as frustration among some holders grew alongside the price decline.
Hoskinson has also continued to highlight Cardano’s long-term development plans, particularly around the Midnight project. Midnight is described as a privacy-focused extension of the Cardano ecosystem, centered on privacy-enhancing technology, chain abstraction, and compliance-oriented design. According to Hoskinson, the project is moving into a more structured development phase, with internal workshops scheduled for January and a longer-term timeline that points toward 2026.
At the same time, Hoskinson announced plans to step away from X, formerly Twitter, in the near future. He stated that his account would soon be handled by a digital twin, while he shifts focus to other platforms such as YouTube, Discord, and long-form writing. He explained that his decision is driven by dissatisfaction with the direction of the platform and a desire to concentrate on building rather than online debates.
His past activity on X has sometimes resulted in sharp short-term price moves for ADA, particularly when he hinted at political engagement or high-profile partnerships. For now, there is no clear indication that his reduced presence on the platform has had a direct effect on price action, but it is a noticeable change in how he plans to communicate with the community.
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Technical Analysis Shows Ongoing Weakness
From a technical perspective, Cardano remains in a clear downtrend. The price is trading around $0.35 and has declined more than 60% year-to-date. It is currently hovering just above the lower Bollinger Band, a zone often associated with extended selling pressure.
Trend indicators continue to confirm weakness. The Average Directional Index (ADX) is near 39, which signals a strong and established trend. In this case, that trend remains to the downside, indicating that sellers still have control despite periods of consolidation.
Momentum indicators, however, show early signs of stabilization. The RSI(14) has risen slightly from 35 to 37, while the faster RSI(7) moved from 33 to 38. These changes suggest that selling pressure may be easing in the short-term, though the readings remain below neutral levels.
The Money Flow Index is around 30, a level commonly associated with selling exhaustion. This can point to the potential for a short-term bounce, but it does not on its own indicate a broader reversal.
Key price levels are well defined. Resistance is located near the 78.6% Fibonacci retracement at $0.4158. On the downside, support is identified at the 100% retracement level around $0.2737. A move below current levels would put that support area into focus.
