Cardano price analysis (Bearish) — 0.65 USDT (-3.67% 24h)

Cardano (ADA) is showing concerning technical signals as it trades at $0.6451, down 3.67% over the past 24 hours. The RSI reading of 21.5 indicates severely oversold conditions, typically suggesting potential for a short-term bounce. However, ADA continues trading below both its 20-day SMA ($0.653) and 50-day SMA ($0.664), confirming the ongoing bearish trend structure. Trading volume remains substantial at $65.7 million, suggesting active participation despite the price decline. The current volatility reading of 2.83% indicates moderate price swings. For traders, this presents a classic dilemma – while oversold conditions suggest potential for relief rallies, the broader trend remains downward. Consider scaling into long positions cautiously around current levels with tight stops below $0.63, while swing traders might wait for a confirmed break above the 20-day SMA before entering positions. Risk management remains paramount given the current market structure.