Cardano (ADA) Price Risks Breakdown Because of Growing Hack Speculation

Key Takeaways

A malformed transaction sparked speculation about a potential Cardano hack.
The Cardano (ADA) price follows an ascending trend line of support.
Will Cardano’s price break down following the negative news surrounding the hack?

Cardano is under intense scrutiny this week after rumors of a Cardano hack spread across social media, sending a wave of FUD through the community.

While Charles Hoskinson insists the threat was neutralized instantly, ADA has already dropped more than 30 percent in November.

Traders are wondering whether the negative headlines could trigger a deeper breakdown.

With ADA clinging to its final support level, the next move could define the trend.

Cardano’s Hack Speculation Explained

On Nov. 22, Cardano founder Charles Hoskinson revealed that a malicious attempt to exploit the Cardano chain had been detected and stopped.

Hoskinson said the team “forked, fixed, and caught the guy all in one day,” emphasizing that the network never went down.

Cardano briefly split into two chains after an operator used AI-generated code to submit a malformed transaction that triggered an old bug.

The incident raised concerns about double-spending and has prompted an FBI investigation, as said by Charles Hoskinson.

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Cardano Price Risks Breakdown

Cardano’s weekly chart shows just how severethe decline has been since the start of the year.

The ADA price has created several lower highs, and the chart pinpoints the exact moment (red icon) when the trend broke down.

This happened when ADA crashed below the $0.53 horizontal area, which had provided support for nearly a year.

ADA Movement — ADA/USDT Weekly Chart | Credit: Valdrin Tahiri/TradingView

ADA currently trades at the final support level that is preventing it from a sharp plunge.

This represents a 900-day ascending support trendline that has been in place since the cycle commenced.

If ADA breaks down, it will confirm a multi-month bearish continuation.

Another Crash Awaits

Momentum Indicators make everything worse.

The Relative Strength Index (RSI) crashed below 50.

When combined with the ADA price action, it confirms that the trend is bearish.

ADA Weekly Movement — ADA/USDT Weekly Chart | Credit: Valdrin Tahiri/TradingView

Adding fuel to the fire, the MACD also fell into negative territory, the final confirmation of the bearish trend.

Hence, all eyes are on the ascending support trend line, which could trigger another 23% breakdown if it falls, hitting the $0.30 support level.

Will Cardano Hack FUD Push ADA Even Lower?

Speculation surrounding the Cardano hack has added pressure to an already weak asset.

Even though the network remained functional and the threat was resolved immediately, the FUD amplified the existing downtrend.

Cardano now sits at its most crucial support level this cycle.

Momentum has shifted bearish, the structure has broken down, and ADA has only one primary support level remaining.

If the 900-day trend line fails, ADA could face a sharp drop toward $0.320.

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Disclaimer: The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.

About the Author

Valdrin Tahiri

Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.

He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.

Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.

He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.

[email protected]

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