Famous crypto analyst Benjamin Cowen made a post on his social media account. Cowen expressed his views on Cardano (ADA), the controversial altcoin of recent years.
Expressing his expectations for ADA through the “depression” predicted. Cowen expects the cryptocurrency to depreciate further after the Cardano price drops below the $0.24 level. The analyst stated that the said movement may continue in 2024.
The depression phase for $ADA begins below $0.24.
The depression phrase will likely last until QE returns, probably sometime in 2024. https://t.co/mOvrwfhSv2
— Benjamin Cowen (@intocryptoverse) September 10, 2023
The altcoin analyst, respected by crypto investors, explained his argument by breaking down a support level. According to Cowen’s calculations, the low time frame for ADA will continue until mid-2024. Benjamin Cowen expects the price to rise again after a while.
The famous analyst shared a warning for Cardano investors on the first day of September.
