Cardano has to break away from this support band to prove life
After a massive decline since September, Cardano (ADA) is finally showing “signs of life”, according to analyst Benjamin Cowen.
Cowen emphasizes that ADA has an important step to take that exceeds the “bull market support band” – a combination of the 20-week simple moving average and the exponential moving average. 21 weeks.
“The first thing ADA has to do is get back above the bull market support band and it’s at $ 1.94 to $ 2.05 …
It’s like having a surefire beat. It does something, but there is still a long way to go. ”
The analyst expects ADA to return to bullish momentum by the end of March.
After implementing smart contract functions in September, Cardano has seen a significant increase in the number of users and transactions since Bitcoin magazine reported.
ADA is trading at $ 1.52 at press time, and is more than 50% below its all-time high of $ 3.1 on September 2.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page
Author
Market
Cardano has to break away from this support band to prove life
After a massive decline since September, Cardano (ADA) is finally showing “signs of life”, according to analyst Benjamin Cowen.
Cowen emphasizes that ADA has an important step to take that exceeds the “bull market support band” – a combination of the 20-week simple moving average and the exponential moving average. 21 weeks.
“The first thing ADA has to do is get back above the bull market support band and it’s at $ 1.94 to $ 2.05 …
It’s like having a surefire beat. It does something, but there is still a long way to go. ”
The analyst expects ADA to return to bullish momentum by the end of March.
After implementing smart contract functions in September, Cardano has seen a significant increase in the number of users and transactions since Bitcoin magazine reported.
ADA is trading at $ 1.52 at press time, and is more than 50% below its all-time high of $ 3.1 on September 2.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page
Other Posts
Related Posts
Latest
New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot
Press Release
New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot
Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B
