Cardano price analysis (Bearish) — 0.63 USDT (-1.29% 24h)

Cardano (ADA) is showing deeply concerning technical signals as it trades at $0.6348 with a 24-hour decline of 1.29%. The most alarming metric is the RSI reading below 10, indicating extreme oversold conditions rarely seen in crypto markets. While such extreme RSI levels sometimes precede short-term bounces, ADA remains below both its 20-day ($0.6529) and 50-day ($0.6565) moving averages, confirming the bearish trend structure. Trading volume of $98.4 million suggests moderate interest but insufficient to drive a meaningful reversal. The 4.28% volatility reading indicates continued price instability. Traders should approach with extreme caution – while a technical bounce from these oversold levels is possible, any recovery attempts are likely to face strong resistance near the $0.65-$0.66 zone. Risk management is paramount; consider waiting for confirmed bullish divergence or a break above the 20-day SMA before establishing long positions. Short-term traders might scalp bounces, but the overall trend remains vulnerable to further downside.