Analyst Predicts Cardano (ADA) To Rally By 75% As MVRV Ratio Plummets
In recent weeks, ADA, the native token of the Cardano network. has drawn much speculation due to a rather turbulent price performance resulting in a decline of 18.77% in the past month. This negative price movement is similar to the majority of the cryptocurrency market following unprecedented massive dips in the price of Bitcoin. However, despite ADA’s troubles, popular crypto analyst Ali Martinez is backing the coin to pull off a remarkable rebound. Interestingly, Martinez’s prediction comes as the digital asset attempts to find its feet, gaining by 9.92% in the last day, according to....
Related News
The current trend in the Bitcoin MVRV ratio suggests the ongoing rally in the cryptocurrency’s price may have room to grow further still. Bitcoin MVRV Ratio Hasn’t Yet Reached Its 4-Year MA As pointed out by an analyst in a CryptoQuant post, the recovery phase in the asset’s price isn’t over yet. The “Market Value […]
Data shows the Bitcoin MVRV ratio has gone down recently, but the metric’s value is still above the historic bottom zone. Bitcoin MVRV Ratio Observes Decrease, But Value Still Greater Than 1 As explained by an analyst in a CryptoQuant post, BTC may still have room for further decline before the bottom is in. The […]
On-chain data shows the Chainlink MVRV ratio has shot up as LINK has rallied above $10, a sign that a steep correction may be due for the asset. Chainlink 30-Day MVRV Ratio Has Crossed The Bearish 20% Mark As explained by an analyst in a post on X, the last three times the LINK MVRV ratio hit similar levels as now, the cryptocurrency registered a sharp drawdown. The “MVRV ratio” (where MVRV stands for Market Value to Realized Value) is an indicator that measures the ratio between the Chainlink market cap and the realized cap. The realized cap here refers to a LINK....
An on-chain signal that preceded crashes of at least 34% for Chainlink in the past has once again formed for the cryptocurrency. Chainlink 30-Day MVRV Ratio Recently Hit The 20% Mark As explained by an analyst in a post on X, the last two times the 30-day MVRV ratio broke above the 19% level, the price of LINK registered a sharp decline. The “Market Value to Realized Value (MVRV) ratio” is an indicator that measures the ratio between the Chainlink market cap and the realized cap. The “realized cap” here refers to the total amount of capital that holders of the....
The Bitcoin MVRV ratio, an on-chain indicator, could suggest the asset may not have hit its top for the current rally just yet. Bitcoin MVRV Ratio Says Market Isn’t Overheated Right Now According to data from the market intelligence platform IntoTheBlock, past bull markets hit their peaks when the MVRV ratio crossed the 300% mark. The “Market Value to Realized Value (MVRV) ratio” refers to an indicator that keeps track of the ratio between the Bitcoin market cap and realized cap. The “realized cap” here is a capitalization model for BTC that calculates the....