Cardano (ADA) is a favorite of many crypto investors. However, the price of ADA has not been going well for some time. However, according to cryptocurrency analysis firm Santiment, the current price of ADA is not a good representation of its value. The researchers state that ADA is undervalued and could double in price in the next three months.
Cardano underrated
Santiment concluded that ADA is undervalued by looking at the so-called Realized market value Ratio (MVRV). According to Santiment, this is an excellent way to determine if the price of a token also aligns with the underlying fair value.
“Although the metric is not without its drawbacks, it provides an easy way to gauge whether a particular currency is overvalued or undervalued, and the potential for an upcoming trend reversal.”
Cardano is clearly undervalued today, according to Santiment. Currently, ADA’s MVRV ratio is at its lowest level since January of 2019. Additionally, Santiment notes that the last time this ratio was very low, ADA’s price doubled in the following three months.
#cardano Now at its lowest relative position compared to realized value since January 2019. This is a sign of undervaluation based on the average trader’s losses. ADA dollarsIts price doubled in the next three months the last time the MVRV Z-Score reached that level. https://t.co/D8Bwk2GWEB pic.twitter.com/gnOuGVqqOq
– Santimentfeed October 22 2022
Although the past clearly does not guarantee future price movements, according to Santiment it is clear that rising A reference to the ADA. Perhaps the price could finally start to rise again after months of poor performance?
ADA rate to $1?
At the time of writing, ADA was trading at just over $0.35. Compared with the high all the time In September of the previous year, down at least 89%!
On Twitter, we asked according to what they expect from ADA rate? Will we see another ADA price above $0.70 before the end of 2022? Or will the ADA sink more? Let us know what you think of vote less.
price #ADA Stand like many others #cryptocurrency deep underwater. what do you think? he goes #cardano The final race will start in the last quarter and at what height will the ADA close this year?
– Crypto Insiders (CryptoinsidersS) October 22 2022