Sunday, February 9, 2025
HomeCryptocurrencyAnalyst Cowen warns that altcoin is increasing 3 times in 2 months.

Analyst Cowen warns that altcoin is increasing 3 times in 2 months.

to stay On Google News Follow up.

Benjamin Cowen, who is particularly known and widely followed for his broadcasts on YouTube, warned about Cardano (ADA). Referring to the US unemployment data, Cowen said that if the inflation data announced tomorrow is even higher, the Fed’s interest rate cuts could be delayed further, making the ADA As many altcoins may decline.

“If it lives up to expectations, it will grow.”

Noting that there could be a sharp upside move if the data comes in line with market expectations, Cowen said the price could exceed $1.20:

“Due to the high interest rate environment, Cardano is likely to show weakness in the short term, but if tomorrow’s inflation data comes in line with market expectations, the price could rise above 1.20. ADA is bullish. It may gain upward momentum, as it has done in recent years. However, if it moves like this period last year, the $0.75-$0.85 level could be seen.

Cowen also said that Cardano has an upward trend in the long term and said that it would be more accurate to follow macroeconomic data in the short term.

Increased more than 3 times in 2 months.

ADA was trading around $0.30 at the beginning of November. The altcoin, which soared after Donald Trump was elected US president, rallied even more with the news that Charles Hoskinson will join the Crypto Council.

It was published:

Last update:

If you want to be the first to know about the latest developments, join the Uzmancoin Telegram channel!

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments