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ADA Price Faces Crossroads: Will the 7-Month High NVT Ratio Lead to a Crash? Coingape 30 Aug 2024

ADA Price Faces Crossroads: Will the 7-Month High NVT Ratio Lead to a Crash? 🔄

ADA price is at a crossroads with the upcoming Chang hard fork on the horizon and limited support levels. This situation makes it challenging to predict the future price movement. On-chain metrics suggest that the market sentiment could be more bullish than bearish.

However, trader behavior analysis indicates a more bearish outlook. This divergence in sentiment between on-chain data and trader actions adds complexity to ADA's price prediction.

The high NVT ratio of the past 7 months is also creating uncertainty about potential price crashes.

Source: coingape.com ↗

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