Cardano (ADA) is currently priced at $0.646573, reflecting a 2.85% increase over the last 24 hours. The daily trading range has been relatively tight, with a high of $0.663714 and a low of $0.623623, indicating a moderate level of volatility.

The volume over the past 24 hours stands at approximately $1.13 billion, which corresponds to a volume-to-market cap ratio of 4.78%. This volume suggests healthy trading activity, but the overall market cap remains under pressure due to recent price declines.

Short-term moving averages indicate a bearish trend, with the 8 SMA at $0.6584 showing a decline of 1.80%, while the 13 SMA and 21 SMA also reflect negative trends. The 55 SMA at $0.6375 is slightly bullish at +1.43%, suggesting a potential support level that could stabilize prices if tested.

The 1-hour RSI is at 54, suggesting a neutral position, while the 7-day RSI at 45 indicates that ADA is approaching oversold conditions. The longer-term price changes reveal a downward trend, with a 7-day change of -7.79%, a 14-day change of -22.66%, and a 30-day change of -27.95%, highlighting significant bearish pressure in the market.

Given that ADA is well below its all-time high of $3.09, reached in September 2021, the current price reflects ongoing challenges in recovering from previous highs. Overall, while the 24-hour increase is positive, the broader trends and moving averages indicate that ADA lacks sufficient momentum for a sustained rally.

In conclusion, the recommendation for Cardano (ADA) is to Hold at this stage. The recent short-term gains may not be sustainable in the face of longer-term bearish trends and key moving averages indicating resistance.