Cardano price analysis (Bearish) — 0.82 USDT (-8.63% 24h)

ADA is showing significant weakness, with a sharp 8.63% decline over the past 24 hours. The RSI reading of 11.16 is deeply oversold, suggesting potential for a short-term bounce, but this extreme reading also indicates strong selling pressure. Price is trading below both the 20-day SMA (0.87012) and 50-day SMA (0.884914), confirming the bearish trend structure. Volume remains elevated at $168M, indicating active participation in the sell-off. Given the oversold conditions, traders might consider scaling into long positions around current levels with tight stops below 0.80, targeting a retest of the 20-day SMA. However, any bounce should be treated as corrective within a larger downtrend until price reclaims the 50-day SMA.