A renowned cryptocurrency trader said that top decentralized exchange (DEX) Uniswap (UNI) is sending bullish signals in the near term.
Analyst Ali Martinez says 59,400 followers of social media platform “I do,” he says. We’ve reached $10!”
Traders use the TD Sequential indicator to predict a potential trend reversal in a token based on the closing prices of the previous 13 bars or candles.
UNI is trading at $7.49 at the time of this writing. The 23rd-largest cryptocurrency asset by market capitalization is up nearly 3% in the last 24 hours.
Martinez too. note Cardano (ADA)’s Market Value to Realized Value (MVRV) ratio has fallen below -22%.
“The last time Cardano’s MVRV ratio fell below -22%, the price of ADA surged more than 75%. “We saw another impressive rebound as the ADA MVRV ratio recovered to below -22%!”
MVRV is the ratio of the market capitalization of ADA to its realized capitalization (the value of all ADA at its purchase price). It is used to evaluate whether a cryptocurrency asset is undervalued or overvalued.
Cardano is trading at $0.472 at the time of this writing. The smart contract platform is up nearly 2.5% in the last 24 hours.
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