Cardano could bounce back strongly by June end.
Benjamin Cowen, a crypto analyst who is followed by many people has said that Cardano, also known as ADA, looks ready for a rally at the end of June. This is provided that one condition is met. In a brand new session dedicated to strategy, Cowen told his subscribers on YouTube this information. He has nearly 749,000 subscribers on the platform.
He told then them that based on the history of the Cardano, the ADA may be due for a rally related to relief. He goes on to call this a support band dedicated to the bull market. This can be seen as a mixing of the simple moving average, as well as the exponential moving average.
Cowenson and Cardano
According to Cowenson, there are many rallies in the support band of the bull market. This was seen in 2018. Then, a phase related to accumulation was reached. He goes on to add that this involves a double bottom. This is as opposed to a single point where the rally goes off and people don’t look back from it.
He talked about how he expects ADA to rise. One of the reasons he cites for this, and he adds that it may not be true. But he says that this could be due to the rally in June for Bitcoin. Should history be found to repeat itself, and Bitcoin finds relief, then this could mark a rise for Cardano as well. He says that ADA is on track when it comes to reaching a target that is of $0.80.