Cardano (ADA) Eyes Further Gains After 65% Weekly Surge, Historical Data Shows 📈
Cardano (ADA) has experienced a 65% price surge over the past week, raising prospects for continued upward momentum. The Market Value to Realized Value (MVRV) ratio is a key indicator, suggesting potential further gains as it is currently at -7.27%, traditionally a signal for price climbs when this low.
The relisting on Robinhood and increased profitability of addresses suggest further demand for ADA, potentially driving prices higher. Historical metrics and the recent market trends support a bullish outlook, contrary to some analysts' warnings of a possible correction.
A bullish crossover in the Exponential Moving Averages (EMA) similar to a previous rally in 2020–2021 hints at possible gains of up to 500%. However, external factors, including Bitcoin's performance, will influence these speculative price increases, with potential hurdles potentially causing price corrections.
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