Cardano's Long-Term Holders At An All-Time High: Is A 'Bullish Reversal' In The Making?
Portfolio Pulse from Khyathi Dalal
Cardano's long-term holders are at an all-time high, with stable user and transaction counts suggesting potential undervaluation and a bullish reversal. Despite a 58% drop from its peak, Cardano is forming a bullish pennant, indicating possible price recovery.
August 13, 2024 | 7:19 pm
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Cardano's stable user base and transaction count, along with a high percentage of long-term holders, suggest potential undervaluation and a bullish reversal. Despite a 58% drop from its peak, ADA is forming a bullish pennant, indicating possible price recovery.
The stable user base and transaction count, along with a high percentage of long-term holders, indicate strong community support and potential undervaluation. The formation of a bullish pennant and hidden bullish divergence in the RSI suggest a possible price recovery.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100