Is Cardano (ADA) poised for a comeback? Price hits bottom, investors welcome the opportunity!

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In the past few days, the price of Cardano (ADA) has dropped by 7%, but this decline presents a potential opportunity for ADA holders. Current market conditions show bullish reversal potential, sparking optimism among investors.

MVRV Ratio Indicates Recovery

According to the 30-day Market Value to Realized Value (MVRV) ratio, recent buyers of ADA are facing about a 15% loss. However, this sluggish trend has pushed the MVRV ratio into the historical “Opportunity Zone,” which usually marks the beginning of a price rebound. Each time this indicator has entered this zone in the past, ADA's price has experienced a significant rebound.

Stabilization Paves the Way for Rebound

Currently, Cardano's realized profit metric has not surged significantly, indicating that investors are not in a hurry to take profits, providing greater stability to the market and reducing severe price fluctuations due to selling pressure. The low volatility during this phase provides a solid foundation for ADA's price rebound.

ADA Price Prediction: Key Support Level Determines Future Trend

Currently, the price of ADA is $0.89, and despite the 7% drop, it remains above the key support level of $0.87. Maintaining this support level is crucial for sustaining bullish sentiment in the short term. If ADA can break through $1.00 and convert it into a support level, the price is expected to rise further to $1.23, attracting more investor attention. However, if the price falls below $0.87, it may lead to further declines, potentially dropping to $0.77 and triggering a bearish trend.

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