Cardano

April

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 <p class="paragraph">Cardano (ADA) appeared highly promising in the final months of 2023 and up until late March 2023 as it appeared set to rise toward new highs in a series of stages, each recording higher highs and higher lows in sequence.</p>
 <p class="paragraph">More recent trading; however, ostensibly dampened the hopes as ADA entered a significant decline in the crypto market and is dangerously close to retracing back to its late November <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>s below $0.40.</p>
 <p class="paragraph">One cryptocurrency expert, however, believes the time may be right to buy the cryptocurrency as a crucial ratio for ADA – the Market Value to Realized Value (MVRV) Ratio – has hit a critical low.</p>
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 <p class="paragraph">This ratio is calculated by dividing the market value – essentially a reflection of the cryptocurrency’s market cap – by the realized value – the sum of the value of each token at the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> it was last transacted.</p>
 <h2 class="wp-block-heading" id="h-why-cardano-might-soon-surge-to-0-80">Why Cardano might soon surge to $0.80</h2>
 <p class="paragraph">According to an X post by Ali Martinez, made on April 19, Cardano MVRV dropped below 22% for the first time since June 2023. The last time this happened, ADA skyrocketed 75% within approximately a month.</p>
 <p class="paragraph">Such a rise for the token at the present time would see it skyrocket to just under $0.80 – a high not seen since early 2022 and might send Cardano on its way toward its old all-time highs above $2.</p>
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    <p lang="en" dir="ltr">The last time #Cardano's MVRV Ratio dipped below -22%, $ADA's <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> soared by over 75%. With the #ADA MVRV Ratio back under -22%, we could see another impressive rebound! pic.twitter.com/ABf0mp4pR4</p>— Ali (@ali_charts) April 19, 2024
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 <p class="paragraph">Such a forecast is strengthened by the fact that ADA is currently substantially oversold, and by the fact that the token is close to breaking its third resistance level at $0.489874, having already, in the last 24 hours of trading, rocketed above the first, which stood at $0.466449.</p>
 <h2 class="wp-block-heading" id="h-ada-price-chart">ADA price chart</h2>
 <p class="paragraph">Cardano has been on an interesting journey in 2024. After a strong start, ADA was severely affected by the crypto market wipe that immediately followed the approval of nine spot Bitcoin (BTC) exchange-traded funds (ETFs), only to rise again – and show much promise – in a massive March rally.</p>
 <p class="paragraph">Despite these developments – and despite a substantial strengthening of its ecosystem with accelerating growth in the number of smart contracts – Cardano is, by April 19, 21.09% in the red year-to-date (YTD).</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/6sDAOHN1RJB3gTNuIG7aWgTwk-1xn_Gy7L0x00S1dfmX259IvlFLqkHznclBUsRG1wBidxF1rg_UJ2VKgO-6aiM7BFzp6cFdykgMYizkrPzSkxEhotTYDxCiX7ts0JNq4OYhMbGWWikIHMHV6J55jtY" alt>
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   ADA YTD price chart. Source: Finbold
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 <p class="paragraph">Much of the fall can be attributed to the last 30 days, which saw a drop of 23.26%, and the weekly chart is not much better, with a decrease of 19.83%.</p>
 <p class="paragraph">Cardano <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> today stands at $0.46808 after a strong 24 hours, which saw a significant 3.56% climb by press time.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/buy-alert-signals-predict-a-75-uptick-in-cardano-price-tbt85792.html">https://thebittimes.com/buy-alert-signals-predict-a-75-uptick-in-cardano-price-tbt85792.html</a></p>

Buy alert: Signals predict a 75% uptick in Cardano price

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