Widely followed crypto market analyst Benjamin Cowen is plotting a potential path for Cardano (ADA) to break out towards new highs.
In a new video, Cowen tells his 561,000 YouTube subscribers that he anticipated a sideways lull in the market after ADA made 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.”
As to when the next breakout will start,