Cardano (ADA) is currently priced at $0.604165, experiencing a significant decline of 5.56% over the last 24 hours. The daily trading range indicates a low of $0.601281 and a high of $0.639719, reflecting increased volatility in a bearish market.

Trading volume stands at 671,650,016 ADA, representing a volume-to-market cap ratio of 3.09%. This relatively high volume suggests active trading, but the negative price movement indicates sellers are currently dominating the market.

The short-term moving averages show a downward trend, with the 8 SMA at $0.6071 and the 13 SMA at $0.6088, both reflecting losses. Notably, longer moving averages, such as the 21 SMA at $0.6134 and the 55 SMA at $0.6305, are also trending downwards, further confirming bearish sentiment.

The 1-hour RSI is at 37, indicating the asset is approaching oversold conditions, while the 7-day RSI at 51 suggests a neutral stance over a slightly longer timeframe. However, the 14-day and 30-day price changes show declines of 11.74% and 15.90%, respectively, indicating overall weakness in the price action.

Cardano's all-time high stands at $3.09, set on September 2, 2021, which highlights the substantial distance from current prices. Despite recent price pressures, the 7-day price change shows a modest increase of 5.81%, which could indicate some short-term recovery potential.

In summary, Cardano's current bearish trend, combined with the downward movement of moving averages and the RSI levels, suggests continued selling pressure in the short term. Given these factors, the recommendation is to Hold ADA, observing for potential stabilization or bullish signals before considering any buying opportunities.