Cardano (ADA) is currently trading at $0.4094, reflecting a 24-hour decrease of 5.50%. The price has seen a daily range between $0.3902 and $0.4372, indicating volatility, but overall a bearish trend in the short term as the price is below the moving averages.

The volume of $1.643 billion shows substantial trading activity, with a volume-to-market cap ratio of 10.97%, which is relatively high, suggesting active market participation. However, the hourly RSI at 36 indicates oversold conditions, while the 7-day RSI at 42 suggests continued weakness, reinforcing the bearish sentiment.

Looking at the moving averages, the 8 SMA ($0.4052) is slightly above the current price, while the 55 SMA ($0.4435) and 144 SMA ($0.4673) reflect significant resistance levels, indicating a downward trend. The recent price changes reveal a notable decline of approximately 18.71% over the last week, with even steeper declines of 29.86% over 14 days and 33.52% over the last month, suggesting a prolonged bearish phase.

In the context of Cardano's historical performance, the all-time high of $3.09 achieved in September 2021 highlights the significant downside potential currently being experienced. Given the current technical indicators and persistent downward momentum, the outlook remains negative, indicating that further declines could be possible if support levels are breached.

Considering the current market dynamics, Cardano is rated as a Sell. The bearish trend, oversold conditions, and substantial losses over multiple time frames indicate that investors may want to exit positions and wait for a more favorable entry point.