Cardano price analysis (Neutral) — 0.49 USDT (-1.32% 24h)

Cardano (ADA) is currently trading at $0.4949, showing modest weakness with a 1.32% decline over the past 24 hours. The technical picture presents mixed signals that traders should carefully consider. ADA’s RSI reading of 71.8 indicates the asset is approaching overbought territory, suggesting potential near-term resistance. However, the price remains above the 20-day SMA of $0.4878, providing some technical support. The concerning factor is ADA trading below its 50-day SMA of $0.4981, indicating medium-term bearish pressure. Trading volume of $96.4 million shows decent participation but isn’t particularly robust for significant price movement. Given the elevated volatility of 4.44%, traders should expect continued price swings. My advice: consider taking partial profits if long from lower levels, and wait for a decisive break above the 50-day SMA with volume confirmation before establishing new long positions. Short-term traders might find range-bound opportunities between $0.485-$0.505.