Looking at the daily chart for Cardano (ADA/USD), we see that ADA price is trading around . The chart uses Heikin Ashi candles which help smooth out trends, and shows that ADA price has been in a consistent downtrend since early June. The price is testing key Fibonacci retracement levels, with visible pivot points around , , and .

The Relative Strength Index (RSI) is sitting near , which indicates that Cardano price is approaching oversold territory (below 30 is considered oversold). A bounce often happens when RSI is this low. Historically, ADA’s RSI rarely stays under 35 for long without a short-term recovery. This suggests a potential for at least a technical rebound.

The pivot points plotted suggest that the nearest resistance levels are around:

If ADA holds the current level and the RSI turns upward, we can expect a short-term move back towards to .

For example: If Cardano price rebounds from to , that’s a gain of about However, if ADA fails to hold above , the next strong support lies near and potentially as low as based on the next pivot (S3) level.

The overall trend is still bearish, as indicated by the downward sloping candles and RSI staying below its moving average line (yellow). Buyers need to push ADA price above the range for any real trend reversal.

To sum up:

ADA price is near oversold territory and could see a bounce if buyers step in.

Traders should watch RSI for signs of reversal and monitor the zone closely. Risk management is key in this sideways-to-bearish setup.

Getting started with Cardano (ADA) on Bitget is simple and straightforward. Just follow these easy steps:

Sign up through this referral link to claim your welcome bonus:
https://partner.bitget.com/bg/cryptoticker

Verify Your Identity (KYC)
Complete the Know Your Customer (KYC) process by submitting valid ID documents. This ensures account security and unlocks full platform features.

Add Funds to Your Wallet
Deposit funds using a debit/credit card, bank transfer, or cryptocurrency. Bitget supports multiple convenient payment options.

Go to the Trading Dashboard
Open the trading interface and search for the ADA/USDT pair. You can also type “Cardano” or “ADA” in the search bar.

Buy Cardano (ADA)
Choose how much ADA you want to buy, confirm the details, and complete your purchase. Your ADA will be instantly credited to your Bitget wallet.

$ADA, $Cardano, $ADAPrice, $CardanoPrice