Widely followed crypto analyst and trader Benjamin Cowen is weighing in on what could lie ahead for Cardano’s (ADA) bull run.
In a new strategy session, Cowen says Cardano’s near future relies heavily on one simple metric involving Bitcoin. According to the crypto strategist, as long as Bitcoin stays above its 20-week moving average – currently around $42,500 – ADA has more room to run.
פרסומת
“Is ADA likely to hit $3.00? The answer to that question likely is just if Bitcoin stays above the 20-week [moving average], it lies with that answer. If Bitcoin is able to stay above the 20-week for just… a day or two, definitely the next few weeks it seems very likely that ADA is going to blast through the $3.00 milestone. I ultimately do see ADA trending much higher than $3.00 this market cycle but we do have to take it one milestone at a time…
Remember, [Bitcoin] doesn’t even have to hang out at these levels for very long. As long as it just doesn’t go parabolic and as long as it doesn’t go back down below the 20-week moving average, there is a high probability that ADA will cross the $3 milestone relatively soon.”
The analyst says that despite ADA’s parabolic run in recent weeks, it doesn’t necessarily need a pullback before continuing to rally. According to Cowen, $3.00 and $4.00 are still possible in the coming days or weeks even if Bitcoin and the rest of the crypto markets remain stagnant. However, he concedes that for Cardano to run any further than his two price targets, Bitcoin would likely have to give ADA a boost by reaching new highs.
“Does it need to pull back now? Hell no, it doesn’t. $3.00, I think $3.00 is certainly possible as long as Bitcoin holds these levels. Even $4.00 is possible I think, as long as Bitcoin holds these levels. To go much further beyond that, I do believe that Bitcoin would need to probably put in all-time highs, but at this point, I think that a $3.00 ADA is possible, even a $4.00 ADA is possible at this rate, especially if our contention is that it can stay strong for the next two and half weeks.”
I
אל תחמיץ פעימה - הירשם כדי לקבל התראות דואר אלקטרוני על קריפטו ישירות לתיבת הדואר הנכנס שלך
עקבו אחרינו ב טויטר, פייסבוק ו מברק
לגלוש התערובת היומית הודל
פרסומת
הצהרת אחריות: הדעות שהביעו ב"דיילי הודל "אינן ייעוץ להשקעה. על המשקיעים לעשות את בדיקת הנאותות שלהם לפני שהם מבצעים השקעות בסיכון גבוה בביטקוין, בקריפטו או בנכסים דיגיטליים. לידיעתך, ההעברות והעסקאות שלך הינן על אחריותך בלבד, וכל הפסד שאתה עלול להיגרם הוא באחריותך. ה- Daily Hodl אינו ממליץ על קנייה או מכירה של cryptocurrencies או נכסים דיגיטליים, וגם ה- Daily Hodl אינו יועץ השקעות. שימו לב כי ה- Daily Hodl משתתף בשיווק שותפים.
תמונה מומלצת: Shutterstock/Tipanet