Market

According to KOL Benjamin Cowen, this is the following scenario for ADA shortly

Renowned analyst Benjamin Cowen reveals what he believes is possible for Cardano (ADA) in the near future.

In one Video fresh says Cowen ADA could slow down around the 20-week SMA before another outbreak occurs.

“A more realistic approach for ADA, but still bullish in my opinion, just a slight retreat from here. And at best, ADA holds above the 20 week SMA and then a new bullish move. What it did before. ”

Weekly ADA / USDT Chart | Source: Benjamin Cowen

Weekly ADA / BTC Chart | Source: Benjamin Cowen

Cowen is also pondering the impact of Bitcoin’s near-term decline, dragging altcoins like ADA with it.

“Another scenario is if Bitcoin experiences a shake, say, a fall to a higher low at $ 38,000 or the 20-week SMA at $ 41,000, then ADA could fall back below the 20-week SMA and then accumulate and that continues to explode. ”

Cowen said slow ADA growth was better than sporadic parabolic movements. According to the analyst, ADA has the fundamental power to sustainably and consistently reach new all-time highs.

“Look at what ADA has done over the years. Well, it’s had a pretty good year and a half. Recently the platform just rolled out smart contracts and will soon be running thousands of dApps on them. Cadarno will build the ecosystem slowly and then grow more slowly. That would be better, in my opinion, than going up too fast. I think slow and steady is always better because it’s more sustainable in the long run. ”

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

SN_Nour

According to Dailyhodl

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Crypto Utility and Scalability: A Comparative Analysis of Qubetics, Polkadot, and Polygon for Best Crypto In November 2024

Explore the utility and scalability of Qubetics ($TICS), Polkadot (DOT), and Polygon (POL). Discover why…

2 hours ago

Altcoins in Focus: Is Qubetics the Best Pick for November 2024 Raising Over $3.2M and How It Compares With Binance and Stellar

Is Qubetics the best crypto to buy in November 2024 after raising $3.2M? Compare Qubetics…

3 hours ago

November 2024’s Best Blockchain Innovations: Qubetics vs. Avalanche and Stellar

Discover November 2024’s top blockchain innovations! Compare Qubetics ($TICS), Avalanche (AVAX), and Stellar (XLM) to…

6 hours ago

Semler Scientific Bitcoin Portfolio Boosted by $29.1 Million

Semler Scientific Bitcoin investment has now reached 58.4% return since July 1, reflecting a significant…

6 hours ago

Kernel Secures Binance Labs Funding to Redefine Restaking on BNB Chain

Bengaluru, India, 25th November 2024, Chainwire

6 hours ago

5 Tips To Gain More Crypto Alpha On X

If you can find a crypto alpha, everything can change. Want tips on how to…

7 hours ago

This website uses cookies.