Cardano price analysis (Bullish) — 0.54 USDT (+1.46% 24h)

Cardano (ADA) is showing encouraging technical signals as it trades at $0.5431, posting a solid 1.46% gain over the past 24 hours. The current price sits above both the 20-day SMA ($0.533) and 50-day SMA ($0.537), indicating underlying bullish momentum. Trading volume of $69.4 million suggests decent market participation, though not explosive. The RSI reading of 68 is approaching overbought territory but hasn’t crossed the critical 70 threshold yet, leaving some room for further upside. Volatility remains moderate at 4.84%, typical for altcoin markets. Traders should watch for a sustained break above $0.545, which could trigger moves toward $0.56 resistance. Consider taking partial profits near current levels given the elevated RSI, with stop-losses positioned below the 20-day SMA. The overall structure remains constructive, but be prepared for potential pullbacks given the stretched momentum readings.