Cardano Key Signals Point to Impending Rebound to $80 and Beyond

CoinMarketCap04-20

Cardano’s price correction finds support at the 61.8% Fibonacci retracement level amid Bitcoin’s sustained strength above $60,000. The MVRV Ratio for Cardano dips below 22%, historically signaling ...

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The MVRV Ratio for Cardano dips below 22%, historically sign","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4563":"昨日强势股","BK4150":"赌场与赌博","VET":"朱砂能源","RSI":"Rush Street Interactive, Inc.","BK4585":"ETF&股票定投概念","BYON":"BEYOND","BK4213":"石油与天然气的勘探与生产","BK4588":"碎股","BK4178":"家庭装饰零售"},"translate_title":"卡尔达诺关键信号指向即将反弹至80美元及以上","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BYON":1,"RSI":1,"VET":1},"content_text":"Cardano’s price correction finds support at the 61.8% Fibonacci retracement level amid Bitcoin’s sustained strength above $60,000.\nThe MVRV Ratio for Cardano dips below 22%, historically signaling significant price rebounds.\nTechnical indicators suggest potential bullish momentum ahead.\n\nThe recent correction in Cardano’s (ADA) price trajectory has been a focal point for investors. Following a peak at $0.81, the asset experienced a notable 50% decline, finding support at $0.4. \nHowever, amidst Bitcoin’s sustained strength above the $60,000 mark, sentiment within the altcoin market shifted towards a local bottom formation. Consequently, Cardano surged to $0.472, aiming to establish a foothold above the 61.8% Fibonacci retracement level, historically significant as a support zone during corrections.\nAn analyst points to key indicators suggesting a forthcoming price surge for Cardano. The Market Value to Realized Value (MVRV) Ratio, a metric gauging ADA holders’ profit or loss status, has recently dipped below 22%. \n\n\n\nThe last time #Cardano's MVRV Ratio dipped below -22%, $ADA's price soared by over 75%. With the #ADA MVRV Ratio back under -22%, we could see another impressive rebound! pic.twitter.com/ABf0mp4pR4— Ali (@ali_charts) April 19, 2024\n\n\n\nThis occurrence has historically preceded significant price increases, with past instances resulting in upticks of over 75%. The recurrence of this dip below the -22% threshold indicates the potential for another notable price rebound in Cardano’s native token.\nLooking ahead, the impending Bitcoin halving event could catalyze renewed recovery in the altcoin market, potentially propelling Cardano’s price beyond overhead resistance levels. Analysts eye targets of $0.683 and $0.81 if such a scenario materializes.\nTechnical indicators further support the possibility of a bullish trend. The daily Relative Strength Index (RSI) slope suggests a potential relief rally, while the 200-day Exponential Moving Average (EMA) on the weekly chart bolsters support around the $0.445 mark.\nRead also:\n\nCardano’s Impending Surge: Analyst Predicts Record Highs\nCardano: Impending Breakout Signals High Stakes for Investors!\nVeChain (VET) Signals Impending Bull Run with Key Technical Alignments\nXRP’s Impending Surge: 3 Key Signals for a Parabolic Leap\nXRP’s Impending Surge: Analyst Signals Exciting Times Ahead!\n\nThe post Cardano Key Signals Point to Impending Rebound to $80 and Beyond appeared first on Crypto News Land.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2428549611"}