A popular crypto trader said that top decentralized exchange (DEX) Uniswap (UNI) is giving short-term bullish signals.
Analyst Ali Martinez To tell His 59,400 followers on social media platform “This suggests we may be gearing up for a ~4-day rally,” he says. It's reaching $10! ”
Traders use the TD Sequential Indicator to predict potential trend reversals in a token based on the closing prices of the past 13 bars or candlesticks.
At the time of writing, UNI is trading at $7.49. The 23rd largest cryptocurrency by market capitalization has risen nearly 3% in the past 24 hours.
Martinez too Note Cardano (ADA)’s market value to realized value (MVRV) ratio is below -22%.
“The last time Cardano’s MVRV ratio fell below -22%, ADA price soared over 75%. With the ADA MVRV ratio back below -22%, we will see an even more impressive recovery. ”
MVRV is the ratio of the market capitalization of ADA to realized capital (the value of all ADA at the purchase price). It is used to assess whether a crypto asset is undervalued or overvalued.
At the time of writing, Cardano is trading at $0.472. The smart contract platform has gained nearly 2.5% in the past 24 hours.
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