Closely followed crypto analyst and trader Benjamin Cowen, Cardanoof (ISLAND) stated that it is possible to reach an all-time high, and also shared his forecast for when this could happen.
Cowen, who shared his analysis in the strategy sessions he shared on his YouTube channel, CardanoHe noted that the coin has gained around 11,000% since March 2020 low and may need time to rest before rallying further.
“ISLAND There has been a huge gain on the part of the company, so it is only natural that it will be consolidated for a while and the ecosystem is expected to be used by more people. Until this happens, the ADA price will continue to consolidate. 2.5 dollars Or can we go back to the $2.25 levels? Of course we can return, I believe it can always happen, but at least I don’t doubt and speculate about an all-time high for a month or more… (Who knows) maybe even longer than that.”
Cowen, ISLANDIt considers a more bearish situation where .
CardanoIf the coin breaks below the bull market support band, currently around $1.90, we can wait for ADA to likely enter a longer accumulation phase before surging higher.
“If Bitcoin continues to rise, I hope it breaks to the upside. So this would be the ideal situation. Even if we don’t hold the bull market support band, I still think it’s in good shape. I just expect a long process of reaccumulation to continue and I hope we move up again after this period.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.