Cardano (ADAUSD) price declined in its latest intraday trading, under negative pressure from moving below its 50-day simple moving average. The price is attempting to find a higher bottom that could act as a base to gain the positive momentum needed for recovery and renewed upward movement. This comes while the short-term upward trend remains dominant, with trading along a supporting minor trend line. Additionally, Stochastic indicators have reached extremely oversold levels, excessively compared to the price action, suggesting the beginning of a positive divergence.

Therefore, we expect the price to rise in its upcoming intraday trading, provided that support at $0.8215 holds, targeting the key resistance level at $1.0196.

Today's price forecast: Bullish