Cardano (ADA) Price: Is A Breakout Possible Despite Oversold Conditions?

Cardano’s price recently reached the $0.67 mark amidst volatility, but remains near its support zone above $0.60 despite weak momentum. Technical indicators remain bearish with RSI in oversold territory and MACD showing no bullish crossover. While trading volume declines, there’s an increase in long positions on derivatives exchanges, even as overall price action remains choppy. Analysts see a potential breakout above the descending triangle’s apex as ADA could climb toward the $1.20 region.