Categories: Blockchain

ADA will continue to accumulate despite market strength, says KOL Benjamin Cowen

Renowned analyst Benjamin Cowen predicts that Cardano (ADA) will continue to accumulate before heading towards a new all-time high.

In one Video Recently, Cowen noted that Cardano has been up nearly 11,000% since its March 2020 low and may need some time to cool off before doing any more rallies.

“This is a pretty big win for ADA, so I think it will need some consolidation for a while. Probably until the Cardano ecosystem really goes live. Can ADA break strong resistance at $ 2.50? Sure, I suppose it could still generate new ATH levels, but not now. Maybe a month or so. “

Weekly ADA / USDT Chart | Source: Benjamin Cowen

Cowen is also looking at a bearish fall for ADA to fall below the “bull market support band,” which is a combination of the 20-week SMA and the 21-week EMA, which is currently around $ 1.90. If so, Cowen says ADA will fall to the 50-week EMA at $ 1.5 and enter a longer period of accumulation, possibly by the end of March next year.

You can see the ADA prices here.

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

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

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

18 minutes ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

24 minutes ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

31 minutes ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

2 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

2 hours ago

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…

3 hours ago

This website uses cookies.