Cardano price analysis (Bearish) — 0.38 USDT (-7.92% 24h)

Cardano (ADA) is experiencing severe technical distress, with its price of $0.3835 representing a brutal 7.9% decline over the last 24 hours. The most alarming metric is the RSI reading of approximately 7.2, which is deeply oversold and suggests capitulation-level selling pressure. The price is trading well below both its 20-day SMA ($0.409) and 50-day SMA ($0.414), confirming a strong bearish trend structure. While the 24-hour volume of nearly $60 million indicates significant activity, it is likely dominated by sellers. For traders, this is a high-risk environment. Aggressive contrarians might look for a potential dead-cat bounce from these extreme oversold levels, but any long position should be considered a speculative scalp with tight stops. The prudent approach is to wait for a confirmed reversal pattern and a recovery in RSI above 30 before considering any meaningful long exposure. The primary trend remains decisively down.