Cardano has declined by 3% to $0.63, approaching critical support levels as technical analysis indicates oversold conditions. The cryptocurrency is currently testing the lower Bollinger Band support. The Relative Strength Index (RSI) stands at 33.64, suggesting a potential oversold bounce could occur. Despite the downturn, institutional trading volume on Binance remains elevated, indicating continued interest in Cardano. The broader cryptocurrency market is experiencing weakness, which may be influencing Cardano’s price movement. Analysts will be closely monitoring these indicators to assess future price action and potential recovery.
