The top DEX, Uniswap (a popular cryptocurrency trader) is the most decentralized (UNI() flashes a bullish short-term signal.
Ali Martinez is a leading analyst tells UNI’s daily chart. According to him, this is a sign that the Tom DeMark Sequential Indicator (TDSI) has been presenting a recent buy signal. “gearing up for a 1-4 day rally, potentially reaching $10!”
TD Sequential Indicator is used by traders to forecast potential trends reversals based upon the close prices of 13 previous bars and candles.
UNI was trading for $7.49 as of the time this article is written. In the past 24-hours, the 23rd ranked crypto asset in terms of market cap has gained nearly 3%.
Martinez also notes Cardano (ADAThe ratio of Market Value to Actual Value (MVRV), which is the difference between market value and actual value, has dropped below -22%.
“The last time Cardano’s MVRV Ratio dipped below -22%, ADA’s price soared by over 75%. With the ADA MVRV Ratio back under -22%, we could see another impressive rebound!”
![Image](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/1713659345_652_Crypto-Analyst-Says-Uniswap-Flashing-Short-Term-Bullish-Signal-Updates-Outlook.jpeg)
MVRV represents the relationship between ADA’s capitalization and its capitalization realized (the price at which all ADA were purchased). This ratio is used to determine whether a crypto asset’s value is overvalued or undervalued.
Cardano’s price is $0.472 when this post was written. In the past 24 hour, smart contracts platform has risen by almost 2.5%.
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