Cardano (ADA) Coin Oversold

ADA coin has been on a downtrend in the last couple of weeks, after the coin had breached the 20-day and 50-day moving average support lines. ADA coin is down more than 40% from the beginning of the year high it had created on January 5th, though it is still up a whopping 850%. The recent correction has brought the coin into the oversold territory. ADA's RSI has fallen to 30.5, which indicates that the coin is almost oversold and the correction in the ADA price is almost over. Cardano coin's next support level is set to come from its 100-day moving average.