Cardano (ADA) is currently trading at $0.816684, showing a slight decline of 0.04442% over the past 24 hours. The daily price range has been narrow, fluctuating between a high of $0.840727 and a low of $0.808093, indicating limited volatility.

The trading volume of ADA is robust at $1,151,213,809, which constitutes 3.86% of its market capitalization. Despite the strong volume, the price has decreased over the last week by approximately 10.27%, reflecting negative sentiment in the short term.

Technical indicators show that ADA is currently oversold, with the 1-hour RSI at 32, suggesting a potential reversal could be imminent. Additionally, the 7-day RSI of 42 further supports this notion of a weak market condition, but it is not yet in the oversold territory.

Moving averages indicate a bearish trend, with all short-term moving averages (8, 13, 21, and 55 SMA) below the current price. The 144 SMA is positioned higher at $0.8555, indicating resistance; thus, ADA needs to break above this level to regain upward momentum.

The 30-day price change of 7.66% shows that ADA had a brief period of recovery, but recent declines over the past two weeks suggest a broader bearish trend. The all-time high of $3.09 from September 2021 remains a distant target, highlighting the current challenges ADA faces in reclaiming its former strength.

Given the current technical indicators, the bearish moving averages, and the recent downward price action, a cautious approach is advised. Therefore, the rating for Cardano (ADA) is a Hold, as there may be potential for recovery if it stabilizes above the current levels, but the overall sentiment remains weak, warranting further observation before making any buying decisions.