Cardano price analysis (Bearish) — 0.64 USDT (-4.19% 24h)

ADA is showing concerning technical weakness as it trades at $0.643, down 4.19% over 24 hours amid elevated selling pressure. The RSI reading of 31.65 indicates oversold territory, suggesting potential for a short-term bounce, but traders should exercise caution. ADA currently trades below both its 20-day SMA ($0.659) and 50-day SMA ($0.656), confirming the bearish momentum structure. The 24-hour volume of $87 million reflects moderate institutional interest, though volatility remains elevated at 4%. For swing traders, consider waiting for a confirmed break above the 20-day SMA before entering long positions. Day traders might find scalping opportunities near the $0.635 support level, but tight stop-losses are essential given the current downtrend. The oversold RSI could trigger a technical rebound toward $0.66-0.67 resistance zone, making this a potential accumulation area for patient investors.