A well-known cryptocurrency trader has suggested that the decentralized exchange Uniswap (UNI) is showing positive signs for a short-term bullish rally. In a recent post on social media platform X, analyst Ali Martinez informed his 59,400 followers that the Tom DeMark (TD) Sequential indicator has signaled a buy for UNI on the daily chart. Martinez believes that this indicates the asset may experience a rally lasting between one to four days, potentially reaching a price of $10.

The TD Sequential Indicator is commonly used by traders to predict potential trend reversals for tokens based on the closing prices of the previous 13 bars or candles.

At the time of writing, UNI is trading at $7.49, showing a nearly 3% increase in the past 24 hours. The crypto asset currently holds the 23rd position in terms of market capitalization.

Martinez also drew attention to Cardano (ADA), noting that its Market Value to Realized Value (MVRV) ratio has dropped below -22%. He mentioned that the last time ADA’s MVRV ratio was below this level, the price of ADA increased by over 75%. Martinez suggests that with the MVRV ratio now below -22% again, another significant rebound could be expected.

The MVRV ratio compares ADA’s market capitalization to its realized capitalization, which represents the value of all ADA at the price they were purchased. This ratio is used to evaluate whether a crypto asset is undervalued or overvalued.

Cardano is currently trading at $0.472, exhibiting a 2.5% increase in the past 24 hours. The smart contract platform continues to perform well.

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