Crypto market analyst Benjamin Cowen is analyzing a strategic move for Cardano (ADA) towards a massive bullish run.
More so, Cowen tells his 561,000 YouTube subscribers in a recent video how he expects ADA to begin to spike from a mark. Additionally, he notes this path will go after how ADA spiked a run to $2.50 from its 2020 low of just $0.02.
“This is sort of what we sort of speculated was going to happen with ADA after…”
“..a crazy move up. And the idea that the cycle is gonna take even longer,…”
“…[it] makes sense to get a long consolidation phase. You don’t go from $0.02 to $2.00…”
“…and then continue higher, usually, without proving to the market that $2.00 can be held.”
Furthermore, Cowen goes on to give his predictions dates for the runup. Which, of course, will happen between mid-November and mid-March.
“When I think about how long could this long re-accumulation phase last,…”
“…if I had to dubiously speculate, I would say the move to a new paradigm shift in what it means to hold…”
“…1 ADA would probably start somewhere in this region. Somewhere between mid-November until mid-March.”
However, For ADA to see this new massive uptrend, Cowen notes that BTC needs to keep holding its 20-week moving average. His speculations places ADA runup time in the month of November.
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“…ADA broke out from the bull market support band in mid-to-late November…”
“…So we may dubiously speculate, the best-case scenario,…”
“…if Bitcoin does continue to rally after holding the 20-week moving average,…”
“…then maybe mid-November is the time, the earliest we could see a rally take place.”
“If you go look at what happened last year,…”