In this bullrun Cardano could play an important role, Benjamin Crown is certain, but if and when the price can crack the $ 3 mark, he gives information in his analysis.
In his YouTube channel, analyst Benjamin Cowen analyzes the price of Cardano ADA and where it could still go.
According to the crypto specialist, ADA is primarily dependent on a very specific parameter of Bitcoin, namely the 20-week moving average. As long as Bitcoin stays above this, which is currently around $ 42,500, ADA has a lot of room for more upward growth.
“Is ADA likely to hit $ 3.00? The answer to that question is likely only when Bitcoin is over its 20 week [gleitenden Durchschnitt] remains, it’s up to this answer. If Bitcoin is able to hold above the 20 week line, just for a day or two, but definitely for the next few weeks, it seems very likely that ADA will break the $ 3.00 milestone. Ultimately, I see ADA trending way higher than $ 3.00 this market cycle, but we have to take one milestone at a time …
… remember that [Bitcoin] does not even have to remain at these levels for very long. As long as it doesn’t get parabolic, and as long as it doesn’t fall back below the 20-week moving average, there is a high probability that ADA will exceed the $ 3 milestone relatively soon. “
Cowen says that despite its parabolic surge in recent weeks, ADA doesn’t necessarily need a pullback to keep climbing. He claims that $ 3.00 or $ 4.00 is possible in the coming days or weeks, even if Bitcoin and the rest of the crypto markets are stagnating. However, he is of the opinion that Bitcoin ADA should probably give a boost by reaching new highs so that Cardano can then subsequently go over the next price targets.
“Does it have to go back now? No, he doesn’t have to. $ 3.00, I think $ 3.00 is certainly possible as long as Bitcoin holds these levels. Even $ 4.00 is possible in my opinion as long as Bitcoin holds these levels. To go much further beyond that, I believe Bitcoin should likely have to hit all-time highs, but at this point in time I think an ADA of $ 3.00 is possible, even an ADA of $ 4.00 is possible at this rate, especially when we assume he can stay strong for the next two and a half weeks. “
The future for Cardano will be very exciting, we will see whether the $ 3 mark can be cracked in the near future …
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