Is Cardano’s (ADA) counterattack imminent? Prices hit bottom, investors welcome opportunities!

Nod your head to live and watch the live broadcast to catch the bull market!

Cardano (ADA) price has dropped by 7% over the past few days, but this drop presents potential opportunities for ADA holders. Current market conditions show the potential for a bullish reversal, sparking investor optimism.

MVRV ratio signals recovery

Investors who recently purchased ADA are facing losses of approximately 15% based on the 30-day market cap to real value (MVRV) ratio. However, this downturn has pushed the MVRV ratio into the historical "opportunity zone" that typically marks the beginning of a price rebound. Each time before this indicator entered this area, ADA price rebounded significantly.

Stable period paves the way for rebound

Currently, Cardano’s realized profit indicator is not surging significantly, indicating that investors are not rushing to take profits, which provides greater stability to the market and reduces wild price swings due to selling pressure. The low volatility at this stage provides a good basis for ADA’s price rebound.

ADA Price Forecast: Key support levels determine future trends

ADA price currently stands at $0.89, and despite experiencing a 7% decline, it remains above the key support level of $0.87. Sustainability of this support level will be critical to sustaining bullish sentiment in the short term. If ADA can break above $1.00 and turn it into a support level, the price is expected to rise further to $1.23, attracting the attention of more investors. However, if the price falls below $0.87, it could lead to further downside and even drop to $0.77, triggering a bearish move.

Nod your head to live and watch the live broadcast to catch the bull market!