Christmas wishes turned contentious for Cardano (ADA) founder Charles Hoskinson this week after he faced pointed accusations about his own trading activity. The controversy erupted as ADA continues a brutal decline that's left the token down 58% in 2025.
A Holiday Message Gone Sideways
Hoskinson posted a Christmas message on X to his followers on Dec. 25, reflecting on what he called a "long, hard year." He encouraged investors not to let the "fire go out" and expressed optimism that "next year will be better."
The optimism didn't last long. An X user quickly fired back with a sharp accusation: Hoskinson allegedly dumped his ADA holdings when the price reached $3 and is now refusing to buy back at $0.36. The implication was clear: if the founder won't buy at these levels, why should anyone else?
Hoskinson responded almost immediately, flatly denying he sold ADA when the price was around $3. He dismissed the claims as false and accused those spreading the narrative of being bots pushing misinformation. "Repeating false claims about selling at the peak won't make them true," he wrote.
The Price Action Tells Its Own Story
Whether or not Hoskinson sold, the price chart for Cardano is undeniably rough. The token has lost 58% of its value year-to-date, with December alone accounting for a 15.6% decline.
The technical picture isn't encouraging. ADA has been in a clear downtrend since Dec. 9, when it was rejected at $0.49. The price is now squeezed between the Supertrend indicator at $0.3756 and SAR dots at $0.3401.
The recent bounce from $0.3380 marks the second test of this support zone within a week. Bulls are attempting to defend this level, but the lack of follow-through reveals weak buying pressure. Price rallies can't even reclaim $0.36.
The critical level to watch is $0.3380-$0.34. A break below this support would likely trigger heavy selling toward $0.30-$0.32, where there's minimal historical price structure to halt the decline.
On the upside, resistance sits at $0.3750-$0.38, where the Supertrend indicator and previous support converge. More significant resistance appears at $0.40-$0.41, the mid-December consolidation area where sellers are likely positioned.
The Selling Continues
Making matters worse, ADA experienced a net outflow of $877.81K on Dec. 26, according to Coinglass. This continues a pattern of consistent selling pressure that has persisted throughout the year.
For investors wondering whether the founder's denial matters when the token is down nearly 60%, the answer might be in the price action itself. Technical levels and capital flows tell a story that doesn't require Twitter debates to interpret. The question now is whether bulls can hold $0.34, or if this painful year has one more leg down in store.