Cardano’s ADA shows a sign of being undervalued, according to data from Santiment
Santiment analytics team has tweeted that at the moment ADA has hit the lowest relative position in relation to the realized value of the token since early 2019. This means, the price may double now, since ADA seems to be undervalued.
MVRV Z-Score reaches a significant level
The tweet stresses that this is “a sign of undervaluation based on average trader loss”. Now, ADA’s MVRV Z-Score has reached -1.35 for the first time in 45 months, that is, since January 2019.
Last time this level was reached, the price of the coins surged 2x during the three months that followed.
📊 #Цардано сада се налази на најнижој релативној позицији у поређењу са оствареном вредношћу од јануара 2019. Ово је знак потцењености засноване на просечним губицима трговаца. $ АДАЦена се удвостручила у следећа 3 месеца последњи пут када је МВРВ З-Сцоре достигао овај ниво. https://t.co/D8Bwk2GWEB пиц.твиттер.цом/гнОуГВккОк
- Сантимент (@сантиментфеед) Октобар КСНУМКС, КСНУМКС
Community remains bullish on ADA
Two days ago, Santiment tweeted that the crypto community remains bullish on several coins, including ADA, XRP, Bitcoin and BNB.
To measure this social sentiment, Santiment team analyzed manifold posts on Twitter and other social media platforms. Therefore, these metrics for ADA and XRP remain bullish despite the recent bearish reversals in the prices of these coins.
At the time of this writing, Cardano’s ADA is changing hands at $0.3493, showing a rise by 4.22 percent in the past 24 hours.
Source: https://u.today/adas-price-doubled-within-3-month-after-this-index-reached-this-level-santiment