Market Overview: Cardano (ADAUSD) 24-Hour Summary

• Cardano (ADAUSD) fell to a 24-hour low of $0.8105 amid sustained selling pressure and low-volume consolidation.
• Momentum weakened across the session as RSI dipped below 30, suggesting potential oversold conditions.
• Volatility remained elevated early in the session before settling into a narrow range during late hours.
• A bearish breakout below key support at $0.8269 accelerated the decline toward $0.8134 and $0.8105.
• Price closed near session lows, with a high-volume 15-minute candle marking the final leg down to $0.8105.

Cardano (ADAUSD) opened at $0.8389 on 2025-09-03 12:00 ET, surged to a high of $0.8423 before entering a sustained downtrend, and closed the 24-hour period at $0.8165 on 2025-09-04 12:00 ET. Total volume amounted to 33,611.5 ADA, with a notional turnover of $27,451.96. The session featured a key breakdown below $0.8361, $0.8335, and $0.8269, which accelerated the downward move.

Structure & Formations

The 24-hour chart displayed a sharp bearish move from $0.8421 to $0.8105, with multiple support levels tested and broken. Notable patterns included a bearish engulfing pattern at $0.8381 and a bearish harami at $0.8379. A bearish breakdown pattern emerged as ADAUSD fell below $0.8269, a key psychological level. Resistance levels appear to be forming at $0.8361, $0.8398, and $0.8421, while support zones are now around $0.8165, $0.8105, and $0.8084.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have been in a bearish alignment since 19:45 ET. The 50-period MA crossed below the 20-period MA, forming a death cross, a bearish signal. On the daily chart, the 50-period MA (not explicitly available due to limited data), but the 200-period MA would act as a long-term floor. The 100-period MA is likely to be above $0.83, making it a distant ceiling for any near-term recovery.

MACD & RSI

The MACD crossed below the signal line around 20:00 ET, confirming a bearish momentum shift. RSI has dropped below 30, indicating an oversold condition. However, RSI divergence is not yet visible, suggesting the move could continue lower before any bounce. The RSI may remain in oversold territory until a buying catalyst emerges or a key support level is tested multiple times.

Backtest Hypothesis

Given the current bearish setup, a potential backtesting strategy could involve entering a short position on ADAUSD after a confirmed breakdown below $0.8269 with a stop above $0.8361. A target for the short could be set at $0.8084 (61.8% Fibonacci level) or $0.8077 (50% Fibonacci level), depending on volatility and order flow. A long entry could be considered if ADAUSD bounces above $0.8165 with a RSI above 40 and rising volume, with a stop below $0.8105.