Cardano price analysis (Bearish) — 0.81 USDT (-5.16% 24h)

ADA is showing concerning technical weakness as it trades at $0.8142, down 5.16% over the past 24 hours. The cryptocurrency has slipped below both its 20-day SMA ($0.828) and 50-day SMA ($0.850), indicating sustained bearish momentum. With RSI reading at 36, ADA is approaching oversold territory but hasn’t reached extreme levels yet, suggesting further downside potential remains. The 3.15% volatility reading combined with elevated $148M trading volume indicates significant selling pressure. Traders should watch for potential support around the $0.80 psychological level, which could serve as a temporary floor. Current positioning suggests caution – consider waiting for RSI to dip below 30 for potential oversold bounce opportunities or for a decisive break above the 20-day SMA before establishing long positions. Risk management remains crucial given the current bearish structure.