ICYMI: Cardano and other altcoins have entered a historical ''buying opportunity'' zone ADA $ADA
According to the chart provided, Cardano has reached a point where ADA prices historically rise per the 30-day MVRV divergence. Santiment reports that Cardano's average trading returns in the 30-day mid-term interval have fallen below -15%, suggesting oversold conditions. It notes this is historically an MVRV level where ADA and many other altcoins see at least a short turnaround in price to alleviate the losses mounting on networks.
MVRV, or Market Value to Realized Value, is a ratio that allows cryptocurrency investors to tell if the price of an asset is fair or not. As a standalone metric, MVRV is used to determine market tops and bottoms.The Cardano network has reached several milestones in recent months, The number of ADA wallets hasActivity on the Cardano blockchain is skyrocketing, with 400 new projects in the works. Presently, nearly 900 projects are building on Cardano.data, ADA was trading at $0.
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