Cardano has seen a well -known price increase in recent days, reflecting the broader market improvement. Altcoin is currently trading at $ 0.79, marking a 17% gain over the past three days.
Next to the desired market conditions, bullish signals from the network itself indicate that Cardano's price may be on the path of recovery of the 40% losses it preserves in March.
Are investors in Cardano not having the opportunity?
MVRV Long/Short Difference for Cardano is currently sitting at -89%. This indicates that long-term holders (Lths) face nearby zero income, with some even experiencing losses. On the other hand, short -term holders (STH) less than a month see income.
This oscillating indicator reaches extreme negative values near the end of the bear's cycle, as when STHs start selling, new investors usually step to absorb pressure sales.
This dynamic will help maintain the price and even push it higher, maintaining a positive momentum. The shift can play an important role in recovery from recent losses.
The bullish technical indicator supports Cardano's macro momentum. Moving the average change of the MacD (MACD) shows that the bullish momentum is strengthening.
The rising green bar in the histogram suggests that the market is experiencing a positive momentum, and the likelihood of a bearish crossover is still far away.
The current trend of MACD supports the idea that Cardano is likely to continue its upward trajectory. As the market shows increased bullish strength, Cardano's price may increase.
ADA prices try recovery
Cardano is currently trading for $ 0.78, a 17% increase in the last three days, approaching it to the resistance of $ 0.80. This recent rally has offered another chance for Cardano price to recover the 40% losses it experienced earlier in March.
If the positive momentum continues, Cardano can break the basic levels of resistance and target higher price points.
A complete recovery is likely to require Cardano to reach $ 1.13, but it may be more time. So far, the realistic target is to have a $ 0.85 resistance to support.
If successful, it will be locked in recent gains and set ADA for further growth towards $ 0.99, which positions for a prolonged recovery.
However, if Cardano fails to maintain its growth and decreases below $ 0.74, altcoin may enter a period of integration. In this situation, the price will likely change between $ 0.74 and $ 0.66, which is incorrectly the current view of bullish.
Refusal
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