Cardano (ADAUSD) price continued to rise during its latest intraday trading, as the price attempts to correct the main downward trend, moving along a short-term minor upward trend line that supports this move. However, negative pressure persists as the price remains below its 50-day simple moving average, limiting the chances of a sustained recovery in the near term. Meanwhile, the Relative Strength Index has reached heavily overbought levels, in an exaggerated manner compared to price action, signaling a rapid weakening in positive momentum.

Therefore, our expectations lean toward a decline in the cryptocurrencys price during upcoming intraday trading, as long as the resistance level at $0.2430 holds, targeting the key support level at $0.2300.

Todays price forecast: Bearish