🚀 AMBCrypto Analytics: $ADA Price Analysis
AMBCrypto considered the Mean Dollar Invested Age (MDIA). This is the average age of all tokens weighted by the purchase price. At press time, the 90-day MDIA was down to 32.298.
High values of this metric indicate that short-term holders are accumulating. But when it decreases, it implies that investors are liquidating their holdings.
For Cardano, the decrease aligned with the latter. Therefore, it is likely that ADA’s price might fall below $0.61 in the coming days. However, the 90-day Mean Coin Age (MCA) had another inference.
Like the MDIA, the MCA reading also dropped. However, the interpretation of these closely related metrics is different. For the MCA, a low coin age indicates that long-term holders were accumulating.
If ADA’s MCA had a high reading, it would have implied that old tokens were being moved. Therefore, while ADA’s price might slide in the short term, the long-term potential leaves the rest of its holders with a possible “moon bag.”
On the 4-hour ADA/USD chart, the Awesome Oscillator (AO) was negative. However, the appearance of green histogram bars on the AO suggested that the bearish momentum might cool off.
Furthermore, indications from the Bollinger Bands (BB) showed that the token was earlier oversold. This was because the lower band of the BB tapped ADA’s price at $0.58.
