Cardano price analysis (Neutral) — 0.89 USDT (-2.90% 24h)

ADA is currently trading at $0.8896, showing a slight decline of 2.9% over the past 24 hours. The price is hovering just below the 20-day SMA at $0.8914, indicating potential short-term resistance, while remaining notably below the 50-day SMA at $0.9133, suggesting a bearish medium-term trend. The RSI reading of 44.6 places ADA in neutral territory, not yet oversold but leaning toward weaker momentum. Trading volume of over $100 million shows decent activity, though the 2.75% volatility suggests some caution among traders. My advice would be to watch for a break above the 20-day SMA for potential long entries, with a stop below $0.87. Alternatively, a break below this support could see further downside toward $0.85. Keep an eye on broader market sentiment and Bitcoin’s movements for directional cues.