Cardano (ADA) Price AnalysisCardano’s (ADA) fall saw the price lose crucial support levels as it dipped to a low of $0.277 on Monday. ADA, which had been in a downward trend since mid-July, saw bearish sentiment intensify on Friday as the price fell by 7.38% to $0.364. The weekend began with considerable volatility on Saturday, as ADA posted a marginal increase. However, the price fell back in the red on Sunday, slipping below $0.35 after a 5.75% drop and settling at $0.344. The marketwide selloff also took its toll on ADA, as its price plummeted by 9.30% to $0.312.

ADA hit a low of $0.277 on Monday, but demand picked up at lower levels thanks to traders buying the dip, allowing the price to climb back above $0.30. ADA is up over 6% during the current session, as bulls attempt to drive the price above $0.35. With the sharp selling pushing the RSI into the oversold zone, a relief rally was expected. However, sellers are expected to defend the $0.35 level. Should ADA be able to push past $0.35, a move towards the 20 and 50-day SMAs could be on the c#MarketDownturn $BTC