Cardano (ADA) longing ends: Is the big rise near?
Cardano, which continues its horizontal movement despite Bitcoin's progress towards the top, has increased expectations. The major coin, which has been fluctuating in a short price range for about four months, may experience a breakout soon.
The popular Layer-1 project Cardano has shown a horizontal movement in the last four months. ADA, which has remained silent despite the rise in Bitcoin, has naturally increased expectations. As of the writing of the news, Cardano is trading at $ 0.353 and has a market value of $ 12.37 billion. With the upward breakout of the symmetrical triangle structure, ADA can target levels of $ 0.4570 and $ 0.5217.
According to Santiment data, the 30-day MVRV ratio recently fell below -5.72k. Generally, a negative value indicates that the short-term investor is at a loss. This scenario usually attracts long-term investors. Historically, a drop below -5% of the MVRV ratio is considered a bottom.
Investors holding 1 million to 10 million $ADA have recently seen a 3.59% growth, increasing their holdings from 5.57 billion to 5.77 billion ADA. This statistic shows that long-term investors continue to expect more. However, Bitcoinâs price and dominance will play a significant role in Cardanoâs long-term price structure.
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