BTC price is increasing and altcoins are generally green for the day. King crypto money unit rose to $60,400. The key point here is the $60,200 to $60,400 area, and in the scenario where those evaluating the bottoms do not start selling rapidly, the $70,000 route may return. While many metrics have been giving bottom signals for days, recent political developments have acted as a trigger for the price increase.
Cardano (ADA)
ADA Coin price made a rapid return. However, what we are used to here is the fact that investors are greedy for small gains and quickly convert them into cash. For a long time, ADA Coin remained stuck in narrow ranges for this reason. On the other hand, MVRV data gives another sell signal. Market Value/Realized Value (MVRV) ratio reflects investor profitability. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
The 30-day MVRV for ADA Coin is at 11%, indicating that many investors are tempted to take profits at current levels. Therefore, it could start a new cycle where investors cash out their gains and increase selling pressure as they do so.
MVRV rate according to historical data ADA Coin When it is between 10% and 20% for, a price correction is generally seen. These levels, called the danger zone, are considered as overheating and bearish signals in the market. On the other hand, this situation is similar to the historical bottom signals of MVRV in negative values, and of course the price does not necessarily move in the direction it indicates.
ADA Coin Comment
They have 1 million to 10 million ISLAND addresses holding $52.6 million in sales. These recent sales could be another leading signal of the pressure we mentioned in the first section. On the other hand, BTC the price of With closes above $60,200, MVRV can be expected to gain up to 20% for higher levels.
At the time of writing, the main resistance point that has not yet been broken is at $0.44. If the price does not want to fall below $0.42, it should break through the resistance and move for higher levels. In a bearish scenario, closing at $0.4 and below could end the recent rally.
With a bounce from $0.42, targets of $0.45 and $0.46 are possible. BTC at the time of writing it hovers above $60,000.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
