Cardano’s price has dropped 3% to $0.63, testing critical support levels as technical analysis indicates oversold conditions in the cryptocurrency market. The cryptocurrency is currently at the lower Bollinger Band support, with the Relative Strength Index (RSI) at 33.64, suggesting a potential bounce due to oversold conditions. Despite the price decline, institutional trading volume on Binance remains elevated, indicating continued interest from larger investors. This combination of technical indicators and market activity highlights the current volatility in the cryptocurrency sector, as Cardano navigates through challenging market conditions.
